Cyprus ordered banks to stay shut for another five days as ministers scrambled Wednesday to draw up a Plan B aimed at securing a bailout after parliament rejected a controversial tax on savings.
A woman carrying shopping bags walks past a man playing the clarinette on Nicosia's Ledra street on March 20, 2013. Debt-hit Cyprus scrambled on Wednesday to draw up a Plan B to secure an EU bailout after MPs rejected an unprecedented bank deposit levy, while also seeking to limit the amount of money leaving the island.
In an early setback, however, Finance Minister Michalis Sarris failed to make progress in Moscow talks to secure aid as a tough-bargaining Russia sought lucrative assets in exchange for further help.
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