Cyprus turns to Russia after parliament rejects levy on bank savings

With protesters celebrating in the streets, the rejection of a draconian levy left a planned £8.5bn eurozone bail-out to save the Mediterranean island in chaos, according to the Telegraph. The country's finance minister defied explicit warnings from Angela Merkel, the German chancellor, and left Cyprus for urgent talks in Russia. Michael Sarris flew to Moscow to plead for aid, despite Merkel warning Cyprus not to enter into negotiations with Russia, raising the spectre of eurozone disintegration. "The chancellor once again emphasised that the negotiations are to be conducted only w...