NEWS

EC official: ‘intensive contacts’ on Cyprus, no meetings planned

The press spokesman for European Economic and Monetary Affairs Commissioner Olli Rehn said on Saturday that «intensive contacts» were underway in a bid to finalize an economic rescue deal for Cyprus but did not confirm that any meetings had been arranged between Cypriot and European officials.

“Intensive contacts are ongoing at many levels,» Simon O’Connor said in a message on his Twitter account. «At this time there are no meetings confirmed in Brussels this weekend,» he added amid speculation that Cyprus President Nicos Anastasiades would visit the seat of the European Commission ahead of a scheduled Eurogroup summit on Sunday expected to focus on the Cypriot crisis.

On Friday, O’Connor told reporters in Brussels that it was vital for the Cypriot Parliament to implement new legislation well before Monday when the European Central Bank has said it will cut off liquidity to Cypriot banks.