Cyprus to delay bank levy vote

(Source: Yahoo! Finance)

The euro appears to be calming against the dollar after regaining some its strength yesterday, while still not at levels seen before the bailout plans for Cyprus were unveiled this weekend. Eyes have been waiting for a vote this afternoon. Cyprus' defence minister has now said that this may not take place today.

Fears about possible contagion will depend largely on this vote, which would see funds taken from depositors ahead of banks reopening on Thursday. Former Russian Finance Minister Kudrin has said that the vote won't pass and that the Cypriot government coalition is crumbling.