"We have to end the neo-colonial behaviour of the Council and the Troika in Cyprus," said a leading MEP.

Hannes Swoboda, leader of the Socialist and Democats group in the European Parliament lashed out at the Troika, made up of the European Union (EU), International Monetary Fund (IMF) and European Central Bank (EVB) that is charged with resurrecting the economies of errant nations in the union.

"We have to change Europe's policies and structures, and the Commission...