Cypriot president Nicos Anastasiades threatens to resign over IMF proposals to rescue plan and let people decide, Cypriot media reported on Sunday evening short before the start of the Eurogroup meeting. Anastasiades threat came after the insistent pressure of the International Monetary Fund that the Bank of Cyprus should absorb the Popular bank. That would mean BOC would have to come up for the 9 billion euro the Popular received by the ELA fund of the European Central Bank.
Anastasiades threatened to break up the negotiations, return to Cyprus, resign and call elections. He also reportedly stopped the absorption process of Cypriot bank branches in Greece by Piraeus Bank.
“I can’t accept that, what is left for me to do is to return to Cyprus and resign,” Anastasiades allegedly said.
The meeting with the heads of EU, ECB, Eurogroup and EFSF has been interrupted.
The Eurogroup meeting, originally scheduled for 7 p.m. has been postponed for 9 p.m. The finance ministers of Eurogroup are supposed to bless the Cyprus-Troika agreement.
With such grave disagreements it looks as if the night will be very tough and very, very long…
UPDATE: shortly after the news was spread, it was …dismissed or better say “corrected”. After a phone conversation between Anastasiades and Cypriot Parliament Speaker Omirou, Cypriot media reported “Anastasiades did not threaten Christine Lagarde with his resignation, but he asked if her insistence and the insistence of European partners aim to force him to resign.” (sigmalive via RealNews)