Eurogroup ready to consider new Cyprus bailout proposal

The Eurogroup of eurozone finance ministers are ready to discuss a new Cypriot bailout proposal, they said Thursday after a conference call, urging Nicosia to present details of the plan. “The Eurogroup stands ready to discuss with the Cypriot authorities a draft new proposal, which it expects the Cyprus authorities to present as rapidly as possible,” they said in a statement. The proposal would be subject to analysis by the European Commission, European Central Bank and International Monetary Fund, the finance ministers said, before continuing “negotiations on an adjustment programme” with Cyprus, dpa reported. “The Eurogroup reaffirms the importance of fully guaranteeing deposits below 100,000 euros in the European Union,” they said.