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Cyprus President Delays Parliament Vote on Deposit Tax Plan

Cyprus’s President Nicos Anastasiades will seek approval to impose losses on the island-nation’s depositors tomorrow, a day later than planned as he seeks more time to convince lawmakers to back him.

Anastasiades, less than a month in the job, will meet with the country’s lawmakers tomorrow, before the Parliament session on the legislation begins at 4 p.m., the Press and Information Office said in a statement on its website. The European Central Bank is pressing for the Cypriot government to stick to the original intention to hold a vote today on the plan, which would make Cyprus the first euro-area rescue to impose depositor losses, two people with knowledge of the discussions said.