Cyprus' parliament is due to meet at 6 pm local time (12 pm ET) today to decide on a proposal to...

|By:, SA News Editor

Cyprus' parliament is due to meet at 6 pm local time (12 pm ET) today to decide on a proposal to levy bank deposits, although given that the vote has been postponed twice, don't bet on it happening this evening. Russia, whose citizens hold €30B in deposits in Cyprus, is furious and has made threatening noises about a $2.5B loan to the island that needs to be renegotiated. Beyond that, Russia could retaliate via energy supplies to Europe.