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Protests as Cyprus parliament approves bailout

Tuesday, April 30, 2013 - 01:14

April 30 - Protesters gathered outside Cyprus' parliament, while inside lawmakers approved an EU bailout including provisions to impose substantial losses on bank depositors and wind down one of the island's biggest banks. Rough Cut (no reporter narration)

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**RESENDING SCRIPT TO UPDATE TO SHOW THAT CYPRUS PARLIAMENT HAS APPROVED THE BAILOUT** ROUGH CUT (NO REPORTER NARRATION) Holding signs and chanting, several hundred protesters gathered outside Cyprus' parliament on Tuesday (April 30), while inside lawmakers were debating whether to back the island's bailout, imposed by its EU partners. A thin majority of 29 lawmakers approved ratification of the bailout bill, while 27 opposed. The rescue deal includes provisions to impose substantial losses on bank depositors and wind down one of the island's biggest banks. The government had warned that without approval the economy was in imminent danger of default. Cyprus is expected to get the first disbursement of a total of 10 billion euros (8.4 billion pounds) in aid from the European Union and the International Monetary Fund in May. Cyprus, the euro zone's third smallest country, is bracing for at least two more years of economic misery and record unemployment as terms of the bailout start to bite.

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Protests as Cyprus parliament approves bailout

Tuesday, April 30, 2013 - 01:14