Cyprus banks closed till thursday

Cyprus banks will remain closed until Thursday as law makers try to amend a measure to raid bank accounts in the country.

Aliki Stylianou, a spokeswoman for Cyprus’ central bank, says Monday’s bank holiday has been extended by two days.

The extension comes after a proposal to seize a percentage of all bank deposits in Cyprus, a move that was demanded as a condition for a €10 billion ($13.09 billion) international rescue package.

Cypriot law makers are now in talks to soften the blow for small savers before they approve the bailout. The parliamentary approval vote has been postponed from Monday until Tuesday evening. (AP)