Cyprus's Lawmakers Reject Bank Deposit Tax, Tangling Bailout Negotiations

Mar 19, 2013
Originally published on March 19, 2013 6:51 pm

In Cyprus, the parliament is wrestling with a European Union-imposed plan that would seize at least 10 percent of the bank savings of wealthy people and possibly 7 percent from everyone else, to help defray the cost of bailing out Cypriot banks. On Tuesday, lawmakers voted against a modified version of the plan.