Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Cyprus Meeting With Eurogroup Has Started

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

...And its meeting with the troika has concluded. According to preliminary reports out of the meeting (aka the Twitter feeds of Peter Spiegel and Kathimerini English), the troika agree with Cyprus that Laiki is wound down and the Bank of Cyprus survives (so maybe the IMF and Germany caved in?). Either way, now the Eurogroup will have to approve the bailout outline. Also according to Peter Spiegel, deposits above 100,000 euros at BOTH Laiki and Bank of Cyprus will be hit with a significant levy.