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UK customers escape bank levy

Around 15,000 savers in the UK arm of stricken Cypriot bank Laiki will see their deposits protected under British rules and will escape the Cyprus banking levy.

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Cyprus: No votes in favour of tax on bank deposits

Cyprus' lawmakers have overwhelmingly rejected an unpopular tax on bank deposits, throwing into doubt an international bailout needed to avert a banking collapse.

The 56-seat parliament voted against the measure by 36 votes and there were 19 abstentions. One deputy was absent, Reuters reported.

The tax is a condition of a €10 billion (£8.66 billion) international bailout for the island.

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