Cyprus parliament rejects deposit tax bill NHK The parliament of Cyprus has rejected a controversial bill to seize a portion of individuals' bank deposits to bail out the nation's financial sector. Lawmakers voted down the bill on Tuesday. The European Union and other creditors asked Cyprus to impose a bank deposit tax of up to 9.9 percent in return for a bailout worth 10 billion euros, or about 13 billion dollars. The country's banks have been crippled by their exposure to debt in neighboring Greece. The rejection of the bill is almost certain to affect the bailout plan. Cyprus is expected to start a fresh round of negotiations with creditors, but the 2 sides are unlikely to reach an agreement anytime soon.