Cyprus seeks eleventh-hour deal to avert meltdown
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Cypriot President Nicos Anastasiades was expected in Brussels on Sunday to seek an 11th-hour reprieve from financial meltdown, with a bailout from the European Union and the island's place in Europe's single currency bloc hanging in the balance.
Underlining the gravity of Cyprus' position, the EU's economic affairs chief said there were now "only hard choices left" for the latest casualty of the euro zone crisis.
Facing a Monday deadline to avert a collapse of the Cypriot banking system, talks in Nicosia to seal a bailout from the EU and International Monetary Fund broke up late on Saturday without result.
"Negotiations are at a very delicate phase," the Cypriot government said in a statement.
"The situation is very difficult and the deadlines are very tight," it said. Anastasiades was due to arrive in Brussels in mid-morning to continue the talks, it said.
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