(WASHINGTON) — Lawmakers in Cyprus have voted against a plan to raid ordinary citizens’ bank accounts so the country can pay off debts.
That means Cyprus won’t get the bailout money it needs to stay afloat.
Cyprus could eventually default and pull out of the euro, which, economists say, could eventually affect the U.S. economy.
Copyright 2013 ABC News Radio
Paul R. La Monica, CNN
Parija Kavilanz, CNN
Jackie Wattles, CNN