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Cypriot President Arrives In Brussels For Last-Minute Crisis Talks

Cypriot President Nicos Anastasiades

Cypriot President Nicos Anastasiades

Cypriot President Nicos Anastasiades has arrived in Brussels for last-minute crisis talks with international lenders.

Anastasiades is joining a meeting of eurozone finance ministers on March 24, one day before the deadline for Nicosia to avert the collapse of its banking system.

The European Central Bank says it will stop providing emergency funds to Cypriot banks if a new plan to resolve the crisis isn’t in place by March 25.

Overnight negotiations in Nicosia to secure a bailout from the European Union and the International Monetary Fund ended early on March 24 without agreement.

EU economic affairs chief Olli Rehn says there are now "only hard choices left" for Nicosia.

The EU says Nicosia must raise 5.8 billion euros on its own to receive a 10 billion euro bailout.

Without the bailout, Cyprus could be forced out of the eurozone.

Based on reporting by Reuters, AP, and AFP