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Cyprus bailout crisis: 'Very difficult days'

20 March 2013 Last updated at 21:55 GMT

Cypriot officials have said the country's banks, which were closed to prevent mass withdrawals, will remain shut until at least Tuesday.

On Wednesday afternoon the cabinet began an emergency meeting to discuss alternatives to an EU-IMF bailout deal rejected by parliament on Tuesday.

The BBC's Gavin Hewitt says Cyprus faces "very, very difficult days" as it tries to find a way to resolve its financial dilemma.