Cypriot lawmakers on Tuesday narrowly passed a critical bailout deal arranged by the European Union in a bid to offset the bloc's growing debt problem.
The deal passed with 29 votes in favor and 27 against, said Reuters. No one party has a majority in the Cypriot parliament.
The multibillion-dollar deal is supposed to stop Cyprus from going totally bankrupt, an event that would further endanger the euro.
The deal's acceptance in Cyprus is expected to lift listless European markets, even as unemployment in the region hits a record high.
International lenders were watching the vote in Cyprus closely after parliament rejected an EU-brokered plan last month, prompting banks to shut down for weeks amid increasing financial turmoil.
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