The Cypriot government is ruling nothing out in talks that begin today with the so-called troika, 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.

To contact the reporter on this story: Paul Tugwell in Athens at ptugwell1@bloomberg.net

To contact the editor responsible for this story: Jerrold Colten at jcolten@bloomberg.net