INQUIRER.net: Cyprus outcry at EU bailout terms sparks rethink

INQUIRER.net Philippine News for Filipinos

Cyprus outcry at EU bailout terms sparks rethink Mar 19th 2013, 01:05 NICOSIA—Cyprus baulked again on Monday at putting an EU bailout to a vote in parliament as the crippling terms sparked a public outcry and mounting talk of a rethink by eurozone creditors, even as the uncertainty forced a prolonged closure of the island's banks.   A Central Bank official confirmed that all bank branches on the island will remain closed until at least Thursday while politicians review with lenders an unprecedented demand for every account holder on the island to pay a tax of at least 6.75 percent on their balances as part of the rescue package.   Banks were closed anyway Monday for a scheduled public holiday but the uncertainty over the fate of... Keep on reading: Cyprus outcry at EU bailout terms sparks rethink Media files: Cyprus-protest-1024x657.jpg (image/jpeg)

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