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In a vote that already has the makings of being enshrined in history, the parliament of Cyprus voted on Tuesday evening to reject the EU-sponsored "bailout" of the country's economy.  This "bailout" included the extremely controversial "haircut" of all bank deposits in Cypriot banks, which made worldwide headlines this past week and which was wholeheartedly supported by the European Union, and in particular, countries such as Germany.  In total, 36 members of parliament voted against the "bailout," 19 abstained, while not one vote in favor was recorded.

By Michael Nevradakis, reporting from Athens:

In a vote that already has the makings of being enshrined in history, the parliament of Cyprus voted on Tuesday evening to reject the EU-sponsored "bailout" of the country's economy.  This "bailout" included the extremely controversial "haircut" of all bank deposits in Cypriot banks, which made worldwide headlines this past week and which was wholeheartedly supported by the European Union, and in particular, countries such as Germany.

Despite the statements made by the newly-elected president of Cyprus, Nikos Anastasiadis, who claimed that the choice facing Cyprus was between acceptance of the "bailout" and a chaotic bankruptcy and departure from the Eurozone, the members of parliament did not cave, and instead, they overwhelmingly voted against the bailout.  In total, 36 members of parliament voted no, 19 abstained, and most notably, not one member of parliament voted in favor of the "bailout" and all of its attached measures.

Social networks were abuzz from the moment that news of the historic vote went public, with one commentator on Twitter describing the vote as "The 'NO' heard round the world."  Response from politicians in Greece, who have been following the developments in Cyprus closely, was also swift--and unsurprising.  In statements that could barely mask their disappointment, political leaders such as the extremely unpopular Greek finance minister Yiannis Stournaras and the equally unpopular leader of PASOK Evangelos Venizelos, reiterated lukewarm statements of "support" for Cyprus.

Meanwhile, reports coming out of Cyprus are stating that Anastasiadis has called a meeting of party leaders tomorrow morning, while it has also been rumored that the Cypriot finance minister Mihalis Sarris presented his resignation to the president, who reportedly did not accept it.

It is also being reported that Cyprus now has until June to come up with a solution or face default.  These reports come only days after the Eurogroup meeting, where the "bailout" agreement was reached, where it was being reported that Cyprus was only "days away" from a default.

The reactions of EU leaders and politicians throughout the EU are now being anticipated, as the EU's response to this historic "no" remains to be seen.  The reaction of the Russian government, which was vehemently opposed to the "bailout" and "haircut" and which was prepared to "re-evaluate" its reations with Cyprus if the "haircut" was enforced, is also anticipated.  Tonight's vote represents the first real rejection of an austerity or "bailout" package since the European crisis began in earnest in 2010.

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