Cypriot parliament approved the restructuring of banks and defer search the rest of the items rescue

Cypriot parliament passed in an extraordinary session on Friday a bill to restructure the banking system, and within the framework of a rescue plan developed by the government and need to be agreed upon with its European partners before Monday to avoid bankruptcy of the Republic of Cyprus.

After the adoption of this bill, the third, who acknowledges in this overnight session of the eight draft laws underpinning the plan, meeting rose to be discussed later projects remaining five, most notably a bill that would tax exceptional one-time up to 15% on deposits in excess of 100 thousand euros.