Cyprus parties called to emergency meeting

Cypriot President Nicos Anastasiades has called an emergency meeting of political party leaders for tomorrow morning.

It comes as a parliamentary vote due to take place today on a bailout deal for the country's banks looks set to be delayed again.

The €10bn package from the European Union and the International Monetary Fund was agreed at the weekend.

A levy on all bank savings as part of the deal is being scrapped for people with less than €20,000 in savings.

However, the controversial tax will still apply at different rates for savers with more than €20,000.

Stock markets around the world are suffering losses today amid investor concerns over Cyprus.

A plane carrying €1m has been sent to Cyprus as a “contingency measure” to help British troops and their families.

The British Ministry of Defence (MoD) said the RAF flight, which left this afternoon, will provide people with emergency loans in the event that cash machines and debit cards stop working completely.

The MoD said it is determined to minimise the impact of the Cyprus banking crisis on “our people” and it will consider further shipments if required.