Cyprus Crisis Deepens as the Country Rejects Bailout

The Cypriot Parliament has voted unanimously to reject the negotiated E.U. bailout package, offered last week. The vote, cast yesterday at 4 p.m. GMT (11 a.m EST,) was taken by hand, with 36 voting against the measure, 19 abstaining and none voting in favor. The widely unpopular bailout proposal, which included a 10% levy or “haircut,” on deposits nationwide, led to long lines at ATMs nationwide, while also inspiring protests throughout the country.. News of the decision has sent shock waves through the already troubled European Union as worries over a possible collapse of the Cypriot financial sector troubled their…