The banks in Cyprus will stay closed until at least next Tuesday.  This is while the government and European Union try to come up with an alternative to the bail-out plan rejected by parliament on Tuesday.

That earlier scheme to have savers pay a one time levy of 6 to 10 percent of their savings in exchange for a €10 Billion bailout was reviled by just about everyone on the island except for President Nicos Anastasiades, who called it “necessary”.

But it triggered a run on ATMs, leaving the machines empty and prompting the UK to fill an airplane with Euros and fly it to Cyprus just so its citizen will have cash during the crisis.

While the government is considering a “Plan B” to the failed EU deal, Russia is weighing in on the discussions because its citizens have multi-billion dollar investments in Cyprus. President Vladimir Putin had called the earlier bailout deal "unfair, unprofessional and dangerous".