Cyprus has four days to agree on a new plan to raise funds to avoid bankruptcy after the European Central Bank warned that it would pull the plug on the country's banks next week if no bailout deal is agreed.
"Plan B" was being thrashed out after MPs soundly defeated an earlier proposal to seize up to 10% of all domestic deposits to finance a rescue.
COMMENT RULES: Comments that are judged to be defamatory, abusive or in bad taste are not acceptable and contributors who consistently fall below certain criteria will be permanently blacklisted. The moderator will not enter into debate with individual contributors and the moderator’s decision is final. It is Belfast Telegraph policy to close comments on court cases, tribunals and active legal investigations. We may also close comments on articles which are being targeted for abuse. Problems with commenting? firstname.lastname@example.org