EU Threatens to Cut Cyprus Off

On Thursday, the EU gave Cyprus until Monday to agree to their terms or see the EU pull it's money out of the country.

If that does happen, the Cypriot economy will collapse.

The EU went one more step when they also threatened to expel Cyprus from the community, if the deal isn't reached, so as to limit the impacts on the rest of their economies.

Cyprus previously rejected the terms, on Tuesday, in hopes of getting more favorable ones from Russia.

However, Russia will not likely agree to any deal for at least another week or so.