Friday, March 22, 2013

Mood Darkens in Cyprus as Deadline Is Set for Bailout

From NYTimes.com

Original source

NICOSIA, Cyprus — As the European Central Bank threatened to shut off crucial financing for banks in Cyprus without a rapid accord, members of Parliament put off a vote Thursday on yet another revamped formula for securing an international bailout. The vote was rescheduled for Friday.

In Cypriot streets, meanwhile, the mood turned increasingly dark. Police officers clashed with some protesters in front of Parliament as about 200 demonstrators gathered outside.

The police also scuffled there with employees of Cyprus Popular Bank, second largest in the country. They had turned out amid rumors that the bank could be shut down within hours. The central bank issued a denial, but warned that Cyprus Popular Bank risked an immediate default if the bailout measure was not passed by Parliament.

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