Cypriot lawmakers have approved capital controls and legislation to wind down banks as they scrambled to secure a bailout and avert a financial collapse.
The parliament passed nine bills late Friday after a day locked in talks between Cypriot and international officials in Nicosia. Lawmakers may vote later on Saturday on what sort of levy to impose on bank deposits above 100,000 euros (US$130,000), four days after rejecting an initial proposal to tax all accounts. Banks have been shut all week and are due to reopen on Tuesday.
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