The Cypriot Parliament sent European Union (EU) and International Monetary Fund officials back to the drawing board on Tuesday by rejecting their controversial bailout package, reported The New York Times.The plan, which was arranged over the weekend, would have taxed bank depositors as part of austerity measures meant to offset Cyprus' national debt -- the tax on depositers a novel approach as reported by NYT. The unprecedented move angered Moscow, presumably because rich Russians often take recourse in Cyprus' reportedly loose tax laws and laxity on things like money-laundering, according to NYT.Continue Reading... … Read More
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