URGENT ¥¥¥ EU, Japan postpone summit over Cyprus crisis

European Union leaders announced late Friday the indefinite postponement of a key summit with Japan intended to launch crucial free trade negotiations next week because of the mounting debt crisis in bankruptcy-threatened Cyprus.

"It is with regret that we have decided to postpone next week's EU-Japan summit," EU Council and Commission heads Herman Van Rompuy and Jose Manuel Barroso said in a surprise statement.