Banks In Cyprus To Remain Closed Until Thursday

NICOSIA, Cyprus (March 18, 2013)—Banks in Cyprus will remain closed until Thursday as lawmakers try to amend a measure to raid bank accounts in the country.

Aliki Stylianou, a spokeswoman for Cyprus' central bank, said Monday's bank holiday has been extended by two days after a proposal to seize a percentage of all bank deposits in Cyprus, a move that was demanded as a condition for a $13.09 billion international rescue package.

Cypriot lawmakers were in talks Monday about how to soften the blow for small savers before they approve the bailout.

The parliamentary approval vote was postponed from Monday until Tuesday evening.


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