Russia turned down the offer to bail Cyprus out of a jam and now the island is going back to the drawing board to try and pull off a financial miracle.
After widespread anger over the plan to tax regular people's bank accounts to pay for a big bank bailout, Cyprus's government reworked to the deal to protect small savers. Unfortunately, the new tax plan is unlikely to change anyone's mind about the fairness of having their savings taken away.
Global markets are on edge today after it was learned over the weekend that Cyprus would be getting a bank bailout from the European Central Bank, along with a very controversial provision that could hurt every citizen in the country.
After weeks of negotiations and more protests than we can count, the Greek parliament finally approved its 2013 fiscal budget complete with radical austerity cuts.
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