The Cypriot government is ruling nothing out in talks that begin today with the so-called troika (refer to the presence of the European Union, European Central Bank, and International Monetary Fund) , Nicosia-based state broadcaster RIK reported, citing an interview with Finance Minister Vassos Shiarly.

Initial talks with representatives of the International Monetary Fund, the European Union and the European Central Bank will be a consultation, not a negotiation, as the troika wants to identify areas that need discussion, the broadcaster said.

Talks will focus on the financial industry and the amount needed for the recapitalization of lenders, and on macroeconomic issues, RIK said.