– The Eurogroup held a teleconference yesterday evening and again invited Cyprus to come up with an alternative proposal for a deal.
– The Cypriot government has put forward three bills to impose capital controls, wind up the second-largest bank and set up a solidarity fund.
– It seems that there is no help for Cyprus from Russia and that Russia is now urging its citizens to take their money out of western banks immediately.
– S&P has downgraded Hungary and Cyprus.
Click here to read the full report: FX Daily
Danske Bank