Moscow is heavily invested in Cyprus but is in no rush to help out, writes Felix Salmon

MPs in Cyprus are expected to vote on a new proposal to radically restructure the island's banking sector, as it teeters on the brink of financial collapse.

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 at the start of next week if no bailout deal is agreed.