BUSINESS

Eurogroup to hold conference call on Cyprus, as local bank urges Nicosia to reach deal

Eurozone finance ministers will hold a conference call on Thursday night to «take stock» of the situation in Cyprus, said Eurogroup chief Jeroen Dijsselbloem.

The Dutch Finance Minister announced the discussion via Twitter. The call will take place at 7 p.m. Central European Time, or 2 p.m. Eastern. Dijsselbloem said a statement would follow the teleconference.

The Bank of Cyprus appealed to the island's political leadership on Thursday to agree a deal for funding with the eurozone to prevent a collapse of the financial sector.

"It is imperative to move immediately towards brokering a deal with the Eurogroup which would ensure unobstructed

liquidity to Cypriot banks to save the Cypriot economy,» the island's largest lender said in a statement.

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