As part of the deal, depositors must help recapitalize their own banks. The bailout passed 29-27 on Tuesday in Cyprus, finalizing the terms stipulated by the European Union and the International Monetary Fund (IMF) in order to receive billions in emergency funds. By approving the terms needed to secure 10 billion euros in May, Cyprus' will require its largest bank, Bank of Cyprus, to absorb its ailing second-largest bank, Laiki. The government will also levy a tax on uninsured depositors at least 100,000 euros in their bank accounts. Protesters reacted before parliament reached a final decision. Hundreds of demonstrators gathered outside of parliament on Tuesday to protest the bailout as according to strict requirements, Cyrus will have to narrow the scale of its banking system, increase taxes and reduce public expense.