Cyprus Mostly Approves Plan to Raise 5.8 billion
Collective sigh of relief as parliament votes in favor of plan, with the exception of the measure for a levy on Bank of Cyprus accounts as Cyprus waits for Troika to advise the amount to be cut. Vote on final measure will occur tomorrow. It is expected to pass.
Meanwhile, it is said that Russia is creating its own offshore financial center on an island somewhere (not sure where) to take over for the Cyprus companies.