There's speculation that the Greek Cypriots are about to back down from plans to deploy Russian anti-aircraft missiles before the end of the year.
Turkey, which supports the breakaway Turkish Republic of Northern Cyprus, has threatened military action if the missiles are installed.
The Cypriot president, Glafcos Clerides, is returning from talks in Greece for a meeting today of his top advisory council, where his spokesman says the final decision will be made.
A BBC Correspondent in Nicosia says there's a general expectation that international pressure to prevent a possible war has paid off, but many Greek Cypriots will feel defeated and humiliated.
From the newsroom of the BBC World Service