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Cyprus Talks Continue Late Into Sunday Night

|Includes:EUFX, EUO, CurrencyShares Euro Trust ETF (FXE), ULE

Main sticking point: assumption of liabilities after the split-up of Laiki. Germany and the IMF vs. Cyprus in its meeting with the troika; Eurogroup meeting afterwards. It's going to be a long night but most likely a positive one, as the overall draft of the bailout seems to be agreed upon. The draft also includes a significant levy of about 20% on deposits above 100,000 euros at Laiki and a 4% levy on accounts of above the same level at other banks.

Also, Cyprus imposes €100 per day limit on ATM withdrawals and Turkey is complaining about Cyprus's natural resources.