Cyprus postpones vote on bailout



CYPRUS parliament speaker Yiannakis Omirou said a vote by MPs on a controversial EU bailout that includes the levying of an unprecedented tax on private bank deposits has been postponed to Tuesday.


Omirou told reporters that parliament would convene for the vote at 6.00 pm on Tuesday (0300 Wednesday AEDT).

He said the delay was needed to give the government time to amend an international bailout deal agreed on last week.

That deal includes a levy on bank deposits as a condition of rescue loans. The Cypriot government is now trying to modify the deal to lower the burden on small savers with less than (euro) 100,000 in the bank.

The modification must be approved by the other eurozone finance ministers before the Cypriot parliament can vote on it.

Source Article from http://news.com.au.feedsportal.com/c/34564/f/632570/s/29b08df4/l/0L0Snews0N0Bau0Cbusiness0Cbreaking0Enews0Ccyprus0Epostpones0Evote0Eon0Ebailout0Cstory0Ee6frfkur0E122660A0A1631640Dfrom0Fpublic0Irss/story01.htm

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