Cyprus parliament approves international bailout dealApril 30, 2013 - 20:33 AMT PanARMENIAN.Net - Parliament in Cyprus has approved the country's international bailout after warnings that the alternative would be financial collapse, BBC News reported. MPs voted through the loan package by 29 votes to 27. The tiny eurozone state secured a loan package worth 10bn euros (£8.4; $13bn) from its EU partners and the International Monetary Fund. In return it must raise 13bn euros, largely banking reform. An early proposal to raise money through a levy on all bank deposits was quickly withdrawn. But anger has continued smouldering. Under the bailout, depositors will be forced to take major losses on savings over 100,000 euros, and capital controls were imposed in March. The Cypriot financial crisis developed because of its exposure to Greece's economic problems. Top stories Azerbaijani President Ilham Aliyev arrived in Moscow on April 22 to hold talks with Russian counterpart Vladimir Putin. Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". Partner news | Concept to complete Yerevan Cascade discussed at city hall A conceptual proposal to complete the Cascade complex in downtown Yerevan has been presented by Jean-Michel Wilmotte. Pashinyan visits flood-hit region Armenian Prime Minister Nikol Pashinyan on Saturday, June 8 visited the disaster area in the Lori province. €3.5 mln EU grant to support justice reforms in Armenia The European Union has paid €3.5 mln grant to Armenia within a €11mln program on Support to Justice Reforms. Yerevan reacts to Baku’s proposal to see Minsk Group abolition Alen Simonyan has declared that Armenia is taking steps aimed at concluding a peace treaty with Azerbaijan. |