Cypriot parliament postpones savings tax vote

The Cypriot parliament has decided to postpone the vote on the plan to seize up to 10 percent of savings accounts to fund a state bailout, The Telegraph cites Greek media as saying.

Tomorrow the country's president Nikos Anastaciaadis will meet with representatives of political parties to discuss the tax plan.

Later today the Cypriot president is expected to have a telephone conversation with Russian President Valdimir Putin, who has condemned the savings tax as unfair and unprofessional.

The Cypriot finance minister is set to meet with his Russian counterpart Anton Siluanov.