Meanwhile in Cyprus

As far as the EU is concerned, even a full-blown Russian bailout is not good enough as it just adds more debt and does nothing to create stability.

“If the Russians were to say we could lend more, that wouldn’t help on the  sustainability of the debt situation,” Dijsselbloem says. “Building up the debts in Cyprus doesn’t help them to work toward a new future,” Dijsselbloem says at EU Parliament

Dijsselbloem Says Not Sure Cyprus Package Has Completely Failed, Says doesn’t see many alternatives for Cyprus (Except EU expulsion, they never were able to buy that much in exports from Germany any way)

Dijsselbloem Says Most Cyprus Deposits Are Investors, Not Savers: “The vast amount of deposits in Cyprus are not really savers, are investors,” Eurogroup head Jeroen Dijsselbloem says at the European Parliament. (They are just stealing from different people)

Dijsselbloem Says ECB Not ‘Using Threats’ With Cyprus Deadline: “I don’t think the ECB is using threats,” Eurogroup head Jeroen Dijsselbloem says. “What they are doing is doing as much as they can within their mandate,” Dijsselbloem says at European Parliament (Which is nothing-remember the failed ramp on ECB liquidity within the rules?)

On the ECB's New Threats...

The ECB has issued an ultimatum to Cyprus to agree to a bailout by Monday (which is a holiday), or the free liquidity ends. "The European Central Bank raised the stakes in the Cyprus crisis on Thursday, telling Nicosia it had until Monday to agree a bailout with the EU and International Monetary Fund or it would cut off emergency liquidity provision to the country’s banks.