Eurozone Finance Ministers will meet in Brussels tomorrow in a bid to secure a bailout for Cyprus and prevent it exiting the single currency. 

The country's Finance Minister says 'significant progress' has been made in talks with the Troika, with much of the discussion focused on a 25 per cent levy on bank deposits over €100,000.

Thousands of bank workers have also marched on the country's presidential palace in protest against the plans.

The Cypriot MP Andreas Michaelides has said that the Government faces a race against time to get the country's banking system in order.