The troika of international lenders began talks with Cyprus, the current holder of the EU’s six-month rotating presidency, on Nov. 9 to seek a draft agreement on a bailout deal for the financially beleaguered Mediterranean island.

A troika delegation was at the finance ministry to thrash out the extent of public sector cuts required in return for much needed financial aid.

The officials are expected to remain on the island until next week.

But state radio said it may not be the last visit by the troika -- the European Commission, the European Central Bank and the International Monetary Fund -- as it could take longer to work out how much the Greek-exposed banking sector needs to recapitalize, Hurriyet Daily reports.