1. ITV Report

Cyprus closer to bailout as MPs agree finance deal

Report by Europe Editor James Mates

The Cypriot parliament has voted through a series of financial measures designed to urge the EU to release a bailout package needed to keep its economy afloat.

Part of the deal included rigorous controls on the movement of money not seen since the advent of the single currency.

Tomorrow the parliament will vote on a tax, likely now to be under 1%, on the bank accounts of local people and off-shore Russian investors.

Speaking to ITV News, the man who led Cyprus into the EU warned that the terms of the bailout risk undermining Europe's entire banking system.

Meanwhile ITV News Europe Correspondent Emma Murphy has been finding out how local people and businesses are battling for their financial survival:

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