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Cyprus lawmakers reject deposit-seizure bill
By The Associated Press
This article was originally published March 19, 2013 at 7:07 a.m. Updated March 19, 2013 at 1:41 p.m.
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NICOSIA, Cyprus — Cypriot lawmakers have rejected a critical draft bill that would have seized part of people's bank deposits in order to qualify for a vital international bailout.
The bill, which had been amended Tuesday morning to shield small deposit holders from the deposit tax, was rejected with 36 votes against, 19 abstentions and zero votes in favor. One deputy was absent.
Hundreds of protesters outside Parliament cheered in jubilation and sang the national anthem when they heard the bill had not passed.
Cyprus will now have to come up with an alternative plan to raise the money.
If it doesn't, it won't qualify for external rescue loans, the country's banks face collapse and the country could go bankrupt.
Read tomorrow's Arkansas Democrat-Gazette for full details.
Comment on: Cyprus lawmakers reject deposit-seizure bill
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GAITOR says... March 19, 2013 at 9:58 a.m.
Typical Socialists, punish those that achieve, therfore appearing to be sympathic towards the "working class". When in reality, once one in the "working class" crosses the imaginary line of achievement, they will be punished as well. Proving that they are meerly tollerating the "working class" and are doing their dead level best to force the "working class" to know and keep their place in Society. Of course, all in the name of "the Greater Good."
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