REPORT: Cypriot President Doesn't Have Backing To Push Through Controversial Bailout Deal

The EU bailout of Cyprus banks negotiated this weekend, which contains a controversial haircut on depositors, has just been pushed back again.

Originally, it was scheduled for today, but this morning, it was postponed until tomorrow.

Now, Peter Spiegel at the FT reports that tomorrow’s vote has been cancelled as well.

According to a report from Antenna TV (via Bloomberg), Cypriot President Nicos Anastasiades will tell the Eurogroup that he doesn’t have the backing in parliament to pass the bill.

Not getting the deal through parliament this week – which could happen, given how intense the debate will probably be – is the biggest near-term risk for markets, according to Wall Street strategists.

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