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 Good news: Cyprus MPs reject EU-IMF bailout tax on bank depositors

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Good news: Cyprus MPs reject EU-IMF bailout tax on bank depositors Vide
PostSubject: Good news: Cyprus MPs reject EU-IMF bailout tax on bank depositors   Good news: Cyprus MPs reject EU-IMF bailout tax on bank depositors Icon_minitimeTue Mar 19, 2013 11:24 pm
Cyprus' parliament has rejected a controversial levy on bank deposits, proposed as part of an EU-IMF 10bn-euro (£8.7bn; $13bn) bailout package.

No MPs voted for the bill, with 36 voting against and 19 abstaining.

The finance ministry had modified the package, proposing an exemption for savers with smaller deposits, but opposition had remained fierce.

Thousands of protesters who had filled the streets outside parliament reacted with joy to the news of the vote.

EU finance ministers had previously warned that Cyprus' two biggest banks would collapse if the deal failed to go through in some form.

http://www.bbc.co.uk/news/world-europe-21842966
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