Asia stocks, euro lower before Cyprus bailout vote

Asian stock markets and the euro fell on Monday as a plan to fund a bailout for Cyprus by taxing its bank deposits raised worries it could spark an exodus of capital from fragile European economies.

The tax is part of a rescue plan for cash-strapped Cyprus that was reached Saturday after talks among officials from countries that use the euro, the International Monetary Fund and the European Central Bank.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1193549/asia-stocks-euro-lower-cyprus-bailout-vote