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German Chancellor Angela Merkel warned Cyprus not to "exhaust the patience of its eurozone partners", reports say. The head of one of Cyprus' biggest banks urged MPs to accept a levy on bank deposits. This was rejected on Tuesday, sparking a fresh eurozone confidence crisis. The eurozone is really turning the screw on Cyprus, and it's being led by Germany. The message is crystal clear - your economic model has to change. They will no longer accept the idea of a national economy within the eurozone that is dependent on its reputation as an offshore tax haven. There is huge irritation with the way the Cypriots have handled things, and that has led to the imposition of deadlines which mean big decisions need to be taken very quickly. The cost of cleaning up the Cypriot banking system must be borne by investors in the Cypriot banking system - like it or lump it. A much-delayed emergency session of parliament is due to vote on a new package of measures to raise the 5.8bn euros (£4.9bn; $7.5bn) needed to qualify for the 10bn-euro bailout. Averof Neophytou, deputy leader of the governing Democratic Rally party, said political leaders were nearing a compromise and a breakthrough was possible on Friday. Government spokesman Christos Stylianides said the authorities were engaged in "hard negotiations with the troika", referring to the EU, the European Central Bank and the International Monetary Fund, the AFP news agency reports. The BBC's Chris Morris in the Cypriot capital, Nicosia, says it is possible that the vote may be delayed once more but he says Cyprus is running out of time to rescue its economy. Banks have been closed since Monday and many businesses are only taking payment in cash.