"My main Cyprus contagion fear is Italy," tweets Reuters' Hugo Dixon. "It doesn't have a...

|By:, SA News Editor

"My main Cyprus contagion fear is Italy," tweets Reuters' Hugo Dixon. "It doesn't have a government and it has form grabbing deposits (Amato 0.6% in 1992)." Meanwhile, Vladimir Putin calls the proposed tax on banks savings "unjust, unprofessional and dangerous." Wealthy Russian are due to be severely hit by the levy.