Close
Log in
Please enter your login details

Skip to main content

Breaking News
  • US president Obama says strength of coalition, including 5 Arab states, shows fight against Islamic State is not America’s alone. (Reuters)
  • Islamic State fighters redeploy from areas hit in airstrikes in Syria towards Kurdish-controlled territory – spokesman for main Kurdish armed group (Reuters)
  • Syria: Assad receives envoy from Iraqi Prime minister who briefs the Syrian president on next steps of efforts to combat terrorism – Syrian state television via Reuters
  • French president Hollande says France to offer $1bln to climate fund for poor (Reuters)
  • At least 120 jihadists dead in US-led Syria strikes: monitor (AFP)
MPs approve vital measures to keep Cyprus afloat
close share panel

Share this article

Twitter Facebook
| Share this article
|

MPs in Cyprus have voted to create a ‘national solidarity fund’, to restructure the island’s banks and to give the government power to impose capital controls in order to prevent a bank run.

The late night emergency session approved the measures in a dramatic bid to avoid an imminent financial meltdown.

The lawmakers are working to a Monday deadline.

“At this difficult time there are no easy solutions of course, there are no painless solutions. At this moment of a call to arms, the Socialist Party will play its role,” rallied Socialist Party member Nikos Nikolaou.

While the voting was going on protesters called for the EU-led troika of international lenders to get out of Cyprus.

The island has been told to raise nearly six billion euros to qualify for a 10 billion euro bailout.

The one measure which triggered the crisis – the rejection of a controversial tax on bank savings – could be back on table in a modified form this weekend.

Copyright © 2014 euronews

More about:
| Share this article
|