PARLIAMENT was meeting on Tuesday on whether to back a bailout imposed by its EU partners, with approval likely from a thin majority against mounting calls for the island to exit the euro.
Lawmakers were meeting in an extraordinary session to ratify the terms of the aid, which is conditional on Cyprus winding down its second-largest bank and imposing heavy losses on uninsured depositors in another. Voting was expected on Tuesday afternoon.
No single party has a majority in the 56-member parliament, and the government is counting on support from members of its three-party centre-right coalition which has 30 seats in total. It needs 29 votes for the bill to pass.
"We have had enough of delusions. We don't have another choice. Whoever has one should tell us what it is," Cypriot government spokesman Christos Stylianides told state radio earlier in the day.
Communist AKEL, in government until it lost presidential elections in February, said it planned to vote against the bill. It has 19 seats in parliament. The socialist EDEK party, with 5 seats, also said it would reject it.
Possible Market mover today, watch carefully.
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