Mr Siluanov said that no new Russian loan had been on the table with Mr Sarris because of limits imposed by the EU on Cypriot borrowing.

BBC: Cyprus crisis: Pressure grows over bailout

Also on the table were limits to the fat severance payments available to bureaucrats, and measures to speed the privatisation of telecoms, electricity, fisheries and the post office, and to contract-out the management of ports.

ECONOMIST: Ecuador