URGENT ¥¥¥ Cyprus president to submit bailout Plan B to parties: TV

Cyprus President Nicos Anastasiades is to present on Thursday to party leaders a Plan B aimed at securing an EU-IMF bailout for the near-bankrupt island, state television said.

The state broadcaster said the proposals were discussed at a government meeting on Wednesday and that Anastasiades would "present a Plan B package to party leaders tomorrow at the presidential palace".

The plan might include a levy on bank deposits over 100,000 euros, state TV said, adding that if party leaders agreed on the proposals they would probably be submitted to parliament as early as Thursday.