Published March 24, 2013
BRUSSELS – The EU says a top official will chair a high-level meeting on Cyprus in a last-ditch effort to seal a deal before finance ministers decide whether the island nation gets a 10 billion euro bailout loan to save it from bankruptcy.
Cypriot President Nicos Anastasiades and Finance Minister Michalis Sarris were flying to Brussels early Sunday.
Spokesman Preben Aaman couldn't confirm who would participate in the meeting, but said it would be led by European Council President Herman Van Rompuy.
Cyprus has been told it must raise 5.8 billion euros ($7.5 billion) in order to secure the loan from the IMF and other eurozone countries. The IMF, European Central Bank and European Commission will determine whether any Cypriot plan meets its requirements.
Finance ministers would have to approve the deal Sunday evening.