Developments are expected soon regarding the Finance Ministry's request to the banks, Finance Minister Makis Keravnos said after a meeting on Tuesday morning with the Association of Cyprus Banks.

In his remarks arriving at the Cyprus Employers and Industrialists Federation's Annual General Assembly, Keravnos referred to a "very good meeting, where useful views were exchanged", adding that he expects developments "that will be helpful for the society and the economy".

Asked whether these developments are expected soon or in the long term, the minister replied that "long term is an undefined notion", and added that "developments are underway and more is expected soon."

Asked about the reaction of the Association to the letter sent last week, Thunder said that the representatives of the banking institutions had "studied my letter very well", adding that he saw "a willingness to understand and cooperate".