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Factbox - Cyprus parliamentary vote unlikely to pass

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(Globalpost/GlobalPost)

NICOSIA (Reuters) - Cyprus's parliament is due to discuss later on Tuesday a levy on bank deposits agreed at the weekend as part of a bailout deal to avert an imminent default for the euro zone state.

A government official said on Tuesday that parliament is likely to reject the move.

But as a rejection would effectively block a bailout that Cyprus needs to keep its banks afloat and the government paying wages and welfare, it was not clear if the vote, scheduled after 1600 GMT, would actually go ahead.

Cypriot and euro zone officials have sought to soften the initially proposed levy of 6.75 percent on depositors of up to 100,000 euros and 9.9 percent above 100,000 to ease the burden on small savers.

However, that was not expected to change the likely voting patterns In parliament, which are set out below:

No single party holds an absolute majority in the 56-member parliament, and alliances need to be formed for the bill to pass. An absolute majority, with all MPs voting and not abstaining, is 29. A block to either approve or reject the vote could be created with abstentions.

YES VOTE:

President Nicos Anastasiades's Democratic Rally party, which is the largest in parliament with 20 members, likely to support any decision.

NO VOTE:

The Democratic Party, Democratic Rally's partner in the governing coalition, which has eight deputies. The Democratic Party says it cannot support the deposit tax.

AKEL, the Communist party, which holds 19 seats. Says levy is a deposit-grab and will not support the move.

Socialist EDEK party, with five seats. Say it will reject the motion.

Greens Party: One MP. Says it are against a "meaningless deposit haircut".

VOTE UNKNOWNS:

European Party: Two MPs, including one who says, at present, that he will reject the motion.

Independent: 1 MP

(Reporting by Michele Kambas; Editing by Catherine Evans)

http://www.globalpost.com/dispatch/news/thomson-reuters/130319/factbox-cyprus-parliamentary-vote-unlikely-pass