Parliament in Cyprus passes international bailout deal

Lawmakers in Cyprus on 30 April 2013 approved the terms of an international bailout which includes imposing considerable losses on bank depositors and restructuring the banking sector, as hundreds of angry protesters demonstrated outside parliament.

The 23-billion-euro bailout bill was passed with 29 votes in favour and 27 against in the 56-seat parliament.

The vote comes as calls mount for the island to exit the euro. Hours earlier, lawmakers had approved austerity measures, including a mandatory property tax and public sector pay cuts.

The aid programme includes 9 billion euros from Europe‘s bailout fund and 1 billion euros from the Initernational Monetary Fund. Cyprus has to find an additional 13 billion euros from its own resources.

ESO: Background Information: Ministers finalise €10 billion Cyprus bailout http://www.europeansources.info/record/ministers-finalise-e10-billion-cyprus-bailout/

BBC News, 01.05.13: Greeks stage 24-hour anti-austerity general strike http://www.bbc.co.uk/news/world-europe-22362757

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