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"Europe is still waiting for a proposal from Nicosia," explains the Cypriot daily, in the wake of the Nicosia parliament’s massive rejection of the European bailout plan for the island. Fundamentally, nothing has changed. Cyprus will still have to find €5.8bn, the sum agreed for its contribution to the bailout, points out the newspaper.
"Cyprus is at the centre of negotiations between Europe and Russia to find the sum demanded by the European Union. It will therefore have to convince Brussels that a solution can be implemented without imposing a bank tax on all depositors," adds the newspaper, which suggests that "an agreement between Moscow and Nicosia" may be in the offing.
Notwithstanding the EU’s affirmation that it will not change its position, the daily remarks that this option is one which Brussels may find disturbing.
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