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Angry bank clients push way into Cyprus parliament

Tuesday - 12/11/2012, 11:13am  ET

Investors, left, shout in front of police officers outside the Cyprus' parliament during a protest in Nicosia, Tuesday, Dec. 11, 2012. The investors, who bought securities in the country’s troubled banks, say they want their money back after the banks blocked access to their cash after losing billions on bad Greek debt and loans. Cyprus has reached a preliminary deal with international creditors on a multi-billion euro bailout to rescue its banks and to make its payments. Final approval of the agreement with the European Commission, the European Central Bank and the International Monetary Fund could be more than a month away. (AP Photo/Petros Karadjias)

NICOSIA, Cyprus (AP) -- Cypriot police say a group of investors and savers protesting outside parliament shoved their way past security and entered the building.

The protesters claim the Cypriot banks sold them investment products under false pretenses to raise desperately-needed cash. Cypriot banks lost billions on their holdings of Greek debt during the financial crisis. They're being bailed out as part of a larger rescue for the country.

Police spokesman Andreas Angelides says the shouting protesters briefly interrupted a meeting Tuesday of a parliamentary committee looking into banking issues.

Angelides says the protesters left the building shortly afterward and no arrests were made.

Cyprus has reached a preliminary deal with the European Commission, the European Central Bank and the International Monetary Fund on a bailout for its banks.


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