Parliament in Cyprus passes international bailout deal

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Source: BBC

Parliament in Cyprus has approved the country's international bailout after warnings that the alternative would be financial collapse.

MPs voted through the loan package by 29 votes to 27.

The tiny eurozone state secured a loan package worth 10bn euros (£8.4; $13bn) from its EU partners and the International Monetary Fund.

In return it must raise 13bn euros, largely banking reform.

Read more: http://www.bbc.co.uk/news/world-europe-22357240