Cyprus parliament ready to veto deposit tax

By Michele Kambas and Karolina Tagaris NICOSIA (Reuters) - Cyprus's parliament was set to reject a divisive tax on bank deposits in a vote scheduled for Tuesday, a government spokesman said, a move that would push the island closer to a default and banking collapse. A weekend announcement that Cyprus would break with previous practice and impose a levy on bank accounts as part of a 10 billion euro (8 billion pounds) EU bailout prompted some turmoil on European financial markets on Monday. Cypriot and euro zone officials have sought to soften the initially proposed levy of 6. ...