Dead Broke: Cyprus turns to Russia after EU terms rejected, Merkel furious (VIDEO)

Scenes of relief and celebration greeted the Cyprus Parliament's rejection of a tax on bank deposits.

The one-off levy linked to an EU bailout deal would have seen millions of account holders lose up to a tenth of their savings, and had been condemned by officials and the public alike.

But the country now finds itself on the brink of bankruptcy and having rejected the EU's terms, it may have to turn to Russia for assistance.

RT's Egor Piskunov reports.


Here's how to resolve the problem in Cyprus:

Iceland solved their problem, and it was actually quite simple.

They tossed crooked bankers in prison, fired the government that helped the bankers loot the people, then wrote off all the debt created through fraud. 

That worked!