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

NPR | March 19, 2013 4:51 p.m.

Contributed By:

Joanna Kakissis

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.

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