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There was still no reaction yet by President Anastasiades who has to deal with the prospect Timberland Boots Outlet of the immediate collapse of the island's second largest lender, Cyprus Popular Bank, and a possible run on the largest lender, Bank of Cyprus. U.S. President Barack Obama left on Tuesday night for a three-day visit to the Middle East, with focus on Iran's nuclear program, the Syrian conflict and the Israeli-Palestinian peace process.

Cypriot banks are due to reopen on Thursday following a two-day bank holiday decreed Timberland Boots UK by the ministry of finance as a way of preventing a bank run and calming down depositors jitters. It is unclear how the decision will affect the bailout deal. No one could still say how depositors will behave in the face of a possible collapse of the banking system.