MPs approve vital measures to keep Cyprus afloat

Cypriot MPs have voted to create a “national solidarity fund”, to restructure banks and give the government power to impose controls to prevent a bank run.

Izvor: EuroNews

Saturday, 23.03.2013.

12:11

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NICOSIA Cypriot MPs have voted to create a “national solidarity fund”, to restructure banks and give the government power to impose controls to prevent a bank run. The late night emergency session approved the measures in a dramatic bid to avoid an imminent financial meltdown. MPs approve vital measures to keep Cyprus afloat The lawmakers are working to a Monday deadline. “At this difficult time there are no easy solutions of course, there are no painless solutions. At this moment of a call to arms, the Socialist Party will play its role,” rallied Socialist Party member Nikos Nikolaou. While the voting was going on protesters called for the EU-led troika of international lenders to get out of Cyprus. The island has been told to raise nearly EUR 6bn to qualify for a EUR 10bn bailout. The one measure which triggered the crisis – the rejection of a controversial tax on bank savings – could be back on table in a modified form this weekend. (Beta/AP) EuroNews

MPs approve vital measures to keep Cyprus afloat

The lawmakers are working to a Monday deadline.

“At this difficult time there are no easy solutions of course, there are no painless solutions. At this moment of a call to arms, the Socialist Party will play its role,” rallied Socialist Party member Nikos Nikolaou.

While the voting was going on protesters called for the EU-led troika of international lenders to get out of Cyprus.

The island has been told to raise nearly EUR 6bn to qualify for a EUR 10bn bailout.

The one measure which triggered the crisis – the rejection of a controversial tax on bank savings – could be back on table in a modified form this weekend.

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