In Cyprus

Apparently just before today's parliamentary vote was to take place, President Anastasiades has put forth a change in which no depositors with $20k Eur. or under face any levy, however it seems the problem of getting the needed votes still centers on the taking of private property, as such today's vote has been delayed, the president will meet party leaders tomorrow morning at 9 a.m. and we are told the vote may not happen tomorrow.

The consequences of the outcome in Cyprus could be or already are precedent setting, but even more so, Cyprus "could" be the first EU nation to face an banking system failure and subsequent expulsion from the EU (Something Merkel probably would shed no tears over as Cyprus is surely the smallest importer of German goods).