CYPRUS MAKE OR BREAK DAY

Today the Cypriot Parliament is due to vote on the terms of the bailout package. But the NO is still not out of question. The Democratic Rally (DISY) and the Democratic Party (DIKO), the parties which supported President Anastasiades in his recent election, do not have a majority- only 28 out of 56 MPs. AKEL, the main left opposition party which has 19 MPs has said it will vote against the package, while DIKO has recently seen at least one MP who does not support Anastasiades split off. The package may also get support from the European Party (2 MPs), but the Movement for Social Democracy and the Ecological and Environment Movement ( 5 and 1 MP respectively) have suggested they could vote against the deal.

So currently the vote could be 30 in favour and 29 against. However, it's still a very fluid situation.

If the Parliament rejects the deal, it could be down to two options: either the Troika softens up the conditions, most likely on depositors (very unlikely) or Cyprus may be forced into default, which most likely means leaving the euro.

Regardless, much of the population and at least half of the political establishment do not seem to support this deal and although there may be few other options on the table in the immediate future, that could seriously undermine the country's political stability or its long term membership in the Eurozone.

When Cypriot MPs vote on this issue today, one thing is certain they will be thinking about the consequences for their own voters.