March 19, 2013
A man passes outside of the a Russian commercial bank in capital Nicosia, Cyprus. Financial markets are reported to be tense Tuesday as investors await a vote in Cyprus on a contentious plan to help fund the country’s bailout by a one off charge on bank deposits although there may be a change to the proposed levy to spare small account holders.
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Lawmakers in Cyprus decisively rejected a plan on Tuesday to seize up to 10 percent of people’s bank deposits in order to secure an international bailout and prevent a collapse of the country’s banks.