22 March 2013 Last updated at 16:49 ET
Parliament in Cyprus has approved a "national solidarity fund" to ease the banking crisis, which has hit confidence across the eurozone.
MPs have also passed a law to impose capital controls.
The solidarity fund was one proposed way of raising the 5.8bn euros (£4.9bn; $7.5bn) Cyprus needs to qualify for an international 10bn-euro bailout.
Parliament on Tuesday rejected a levy on all bank deposits to raise the money.
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