By MENELAOS
HADJICOSTIS and ELENA BECATOROS Associated Press
Cypriot
lawmakers on Tuesday rejected a critical draft bill that would have seized part
of people's bank deposits in order to qualify for a vital international
bailout, with not a single vote in favor.
The
rejection leaves Cyprus 's
bailout in question. Without external funds, the country's banks face collapse
and the government could go bankrupt. Nicosia
will now have to come up with an alternative plan to raise the money: the
government could try to offer a compromise bill that would be more palatable to
lawmakers.