MNI is reporting that Cyprus’ finance minister has submitted his resignation, citing sources. The Greek press reports that he has been forced to quit but CNBC is reporting that his resignation has not (yet) been accepted.
Euro back to the lows of the day but bids ahead of 1.2900 are still holding.
The only thing worse than a bankrupt country is a bankrupt country with no leadership.
Update: MNI is now reporting that the finance minister will continue to represent Cyprus on a trip to Russian, which started today.