Cyprus MPs pass banks restructure to ease crisis


MPs in Cyprus have voted to restructure the island's banks - one of several measures to ease the crisis, which has hit confidence in the eurozone.

They have also approved a "national solidarity fund" and capital controls to prevent a bank run.

Cyprus need to raise the 5.8bn euros (£4.9bn; $7.5bn) needed to qualify for the 10bn-euro bailout, having rejected an earlier deal.

The country is in a race against time after the European Central Bank gave Cyprus until Monday to find the money.

Gavin Hewitt reports.

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