we begin with the markets. big repercussions this morning to a controversial plan by european leaders to partially fund a bailout of cyprus. today, cyprus parliament will hold an emergency vote to review the terms of a rescue package that targets individual savings accounts in exchange for billions of dollars of emergency crash and creditors impose onetime tax of 3% on all bank deposits under $130,000. going deep here. the tax could be closer to 10% on people who have over $640,000 in the bank. that s according to the the wall street journal this morning. people stood in long lines over the weekend to withdraw money before the policy went into effect and now russian president vladimir putin is calling the move, quote, unfair, unprofessional and dangerous. russian citizens make up the majority of billions of euros held in cypress bank.
obama expected to announce tom perez to be the next secretary of labor. perez currently heads the civil rights division of the justice department. did confirmed he would be the only hispanic member of the cabinet. still, perez could face an uphill battle at his confirmation hearing. republican senators may take issue with his handling of cases the last several years, including his challenges to voter i.d. laws in south carolina and texas. we move on to business. today cypress parliament will hold an emergency vote to approve bailout terms. it appears the country s law patients would not approve that measure which would result in a loss of much-needed funds. what it means for the rest of europe? we chenlg in with steve sedgwick live in london for us. good morning. very good day to you. just when you think europe s getting its act together another crisis comes along. we ve had greece, spain, italy, ireland, portugal, now cyprus, the sec-smallest nation wind the european union. what
arnold schwarzenegger? your cnn political the ticker is next. but first, we are just getting words there some action in arizona. they re holding this emergency vote involving the funerals of the shooting victims. we ll have a live report on what s happening there in the statehouse, next. when i got my medicare card, i realized i needed an aarp. medicare supplement insurance card, too. medicare is one of the great things about turning 65, but it doesn t cover everything. in fact, it only pays up to 80% of your part b expenses. if you re already on or eligible for medicare, call now to find out how an aarp. medicare supplement insurance plan, insured by unitedhealthcare insurance company, helps cover some of the medical expenses. not paid by medicare part b. that can save you from paying up to thousands of dollars. out of your own pocket. these are the only medicare supplement insurance plans. exclusively endorsed by aarp. when you call now, you ll get this free information kit. with a
one year. if you want to come see lady liberty, do it now. house lawmakers return to capitol hill today for an emergency vote on a bill. the money is necessary to save thousands of teachesers jobs. we don t know kelly wright s mood but we know he s in washington. i m always a happy camper. the vote is to send $26 million in aid to the states. the bill would give $10 billion to help them retain and hire teachers. another will extend for 16 months, that helps health care for the poor. this continues federal aid provided already under last year s stimulus bill. it will help prevent the layoff of 145,000 teachers and other state employees. reians claim the $26.1 billion measure is nothing more than a giveaway to the public service unions that helped democrats
this whole pie. so i think that, you know, if they were going to go back and do it, i doubt they are at this point. it s not in the bill. i d love to know how they write the bills over night. 1400 pages, and then there has to be an emergency vote and another emergency vote and there s a fight for the votes. look at what s in the bill. by the way, who wrote this bill? are you going to tell me chris dodd wrote this bill? well, this is why i think people across the country have very little confidence in washington. they think this is not how they would run a business, right sf this is people would not run their businesses that way so they don t think our country should be run that way and even though this is the way it s been done for years and years, people are paying more attention now. we re paying attention to the immigration situation. of course, arizona, the governor just signed a thing that said, you know, if police have a suspicion that somebody is in the country illegally