Cyprus' Central Bank chief Panicos Demetriades leaves after a meeting in the presidential palace in the capital Nicosia (AP)

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.

Facing the ultimatum, the Cypriot government was trying today to drum up support for a new proposal that will please MPs as well as the country's potential international creditors. The "Plan B" was being thrashed out after MPs soundly defeated an earlier proposal to seize up to 10% of all domestic deposits to finance a rescue.

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They had to wait until Monday because..................................

You've got to admire those Cypriots giving the two fingers to the Troika. Pity our politicians didn't have the moxy to do the same 3 years ago. Its now a game of brinkmanship. I'm betting that if the Cypriots hold their nerve, the EU will suddenly come up with a face saving scheme that they will say was their intention all along. There isn't a hope in hell of the EU ( Germany and France in particular) of allowing the Russians to gain a foothold in the Med especially now as their naval base in Syria is looking increasingly vulnerable.

I can't come to terms what it must be like to be out there on holiday and have all your money on a pre loaded card and not be able to access it through an ATM.
Could the same happen in Spain?

That's a good point, it's best not to have all your eggs in one basket, last year in Lemos with a possible crisis looming I took both cash and card to survive if they pulled out of the euro

I am sure it could Mark, but best to do what Delboy did, as a back up.

I'll just sell Jan if it happens

Then you'll have five camels to feed