Cypriot parliament rejects bank-deposit levy

FXstreet.com (San Francisco) - The Cyprus' parliament has rejected the tax on bank deposit also know as levy with 36 votes against the proposal and 19 abstentions. In this way, Cyprus has blocked the €10Bn bailout just 15 minutes before the deadline.

However, the Cypriot President Nikos Anastasiadis will hold talks on Wednesday to see another ways to solve the situation and try to reach a agreement with all the parties.

EUR/USD has reacted higher to the news and currently it is trading at the 1.2880/90 region.