Economy & Finance

Cypriot lawmakers debate divisive deposit tax for bailout

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NICOSIA (Reuters) – Parliament in euro zone member Cyprus began debating a deeply divisive levy on bank deposits on Tuesday to secure an international bailout and avoid default.

The outcome was uncertain, after President Nicos Anastasiades warned the assembly would likely reject the bill as “unjust”, threatening to tip the Mediterranean island deeper toward financial chaos.

(Reporting by Karolina Tagaris- Writing by Matt Robinson- Editing by Ruth Pitchford)

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