The Cyprus government raced Saturday against a Monday deadline to complete legislation aimed at avoiding a banking collapse.

Finance Minister Michalis Sarris — speaking Saturday in Nicosia — reported significant progress toward reaching a deal, and said new legislation for raising funds needed to qualify for an international bailout could be completed as early as Sunday.

Lawmakers were reported on the verge of approving a one-time levy on deposits of more than $130,000. President Nicos … [Read More]

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Source: VOA News: Economy and Finance