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Cyprus parliament delays vote on bank deposits tax

AP
March 18, 2013, 12:15 am TWN

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NICOSIA, Cyprus--Cyprus' parliament on Sunday postponed a debate and vote on a controversial levy on all bank deposits that the cash-strapped country's creditors had demanded in exchange for 10 billion euros (US$13 billion) in rescue money.

The vote, which had been expected later Sunday, has been pushed back to Monday afternoon, parliamentary official Antonis Koutalianos said.

The announcement set off an immediate scramble among top European officials, with reports that the European Central Bank was pressuring Cypriot authorities to hold the vote without delay.

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