Cyprus' leaders will discuss on Tuesday, June 26 options for reviving an economy on the verge of succumbing to a bailout, with a debate raging on whether the country should seek aid from the EU's rescue fund or look further afield, Reuters reported.
Political leaders would meet on Tuesday afternoon, a press release from the presidency said, shortly after ratings agency Fitch cut the island's sovereign debt to non-investment grade.
Heavily exposed to the crisis in Greece, cash-starved Cyprus needs to recapitalize its second-largest bank by Friday. For weeks, it has been trying to juggle its options between a bailout from Europe's EFSF fund or a bilateral loan from either Russia or China.
