Cyprus passes laws to empower banks to manage toxic loans, clear way for more European-IMF aid

April 18, 2015 4:20 PM

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Cyprus passes laws to empower banks to manage toxic loans, clear way for more European-IMF aid

A protester burns his voting booklet during a demonstration outside Cyprus’ Parliament in the capital Nicosia on Friday, April 17, 2015. Several dozen protesters gathered outside parliament to voice their opposition to legislation that would make it easier for banks to go after a huge number of bad loans. More than half of all loans in Cyprus have gone sour in the wake of the country’s March 2013 rescue deal that resulted in high joblessness and slashed salaries. (AP Photo/Petros Karadjias) (The Associated Press)

A protester shouts under a banner that reads: “Organization, Resistance, Claiming”, during a demonstration outside Cyprus’ Parliament in the capital Nicosia on Friday, April 17, 2015. Several dozen protesters gathered outside parliament to voice their opposition to legislation that would make it eas...

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