Cyprus Approves International Bailout

The Cypriot parliament approved an international bailout Tuesday in a very close vote, with just over half of lawmakers voting in favor. The “yes” vote lines Cyprus up for a range of austerity measures.

Of 56 lawmakers, 29 voted in favor of the bailout and 27 voted against.

The approval secures a $13 billion loan from European nations and the International Monetary Fund. And, according to the Cypriot government, it saves the island from the threat of an imminent default on …

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