Cypriot banks to remain closed until Thursday

Cypriot banks will remain closed until Thursday amid debate on savings seizure

Associated Press
Cypriot banks to remain closed until Thursday
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Cypriot President Nicos Anastasiades, left, and President of the Parliament Yiannakis Omirou walk toward the parliament following a meeting in capital Nicosia, Cyprus, Monday, March 18, 2013. Cyprus' president is briefing lawmakers ahead of a crucial parliamentary vote on a controversial levy on bank deposits that the cash-strapped country's creditors have demanded in exchange for a euro10 billion (US$13 billion) rescue package.(AP Photo/Petros Karadjias)

NICOSIA, Cyprus (AP) -- Cyprus banks will remain closed until Thursday as lawmakers try to amend a measure to raid bank accounts in the country.

Aliki Stylianou, a spokeswoman for Cyprus' central bank, says Monday's bank holiday has been extended by two days.

The extension comes after a proposal to seize a percentage of all bank deposits in Cyprus, a move that was demanded as a condition for a €10 billion ($13.09 billion) international rescue package.

Cypriot lawmakers are now in talks to soften the blow for small savers before they approve the bailout. The parliamentary approval vote has been postponed from Monday until Tuesday evening.

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