17 Mar '13, 3am

Cyprus parliament meets on painful EU bailout deal

Cyprus parliament meets on painful EU bailout deal

NICOSIA: The Cyprus parliament is to hold an extraordinary session on Sunday as the debt-laden government seeks to push through legislation on a painful EU bailout, amid anger among bank savers who would be hard hit by the plans. President Nicos Anastasiades is due to brief MPs at 11:30 am (0930 GMT), with a tough ride for the draft expected at a full plenum from 4:00 pm (1400 GMT), Cypriot media said. Ministers are in a race to thrash out draft legislation ratifying the bailout and push it through parliament before banks reopen on Tuesday after a long holiday weekend, including a pre-Easter carnival Sunday marred by the news. On Saturday evening, the president already had meetings lined up with party leaders and the island's bank bosses. Faced with protest calls, the president said he will address the nation on Sunday to defend the controversial deal which he admitted was...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

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Cyprus bailout deal includes taking 5,8 billion from the bank deposits of regular people. #Bitcoin user not affected.

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