Banks in Cyprus will extend this week's holiday closure to Tuesday in order to prevent a possible run on banks, according to BBC News, marking the latest in the country's growing fiscal crisis.
More from GlobalPost: Cyprus parliament rejects EU bailout deal
The news comes a day after the Cypriot Parliament rejected a bailout plan put together by Cypriot, European Union and International Monetary Fund negotiators that would have taxed bank depositors in order to raise the 5.8 billion euros ($7.5 billion) Cyprus needs to qualify for outside economic aid.
Officials held emergency meetings on Wednesday to discuss alternatives, said BBC.
Ever the optimist, Germany said banks in Cyprus might not ever reopen barring a bailout breakthrough, according to BBC.