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ECB Gives Cyprus Funding Deadline as New Plan Sought

Cypriot police scuffled with protesters, including employees of Cyprus Popular Bank Pcl, outside Parliament as President Nicos Anastasiades maneuvered at home and in Russia to stave off financial collapse.

Seeking to unlock an international bailout, the Cypriot central bank proposed a bill to overhaul the banking system that would allow Cyprus Popular, the country’s second-largest lender, to avoid a “catastrophic” bankruptcy and protect insured deposits to an amount of 100,000 euros ($129,000).