Panic, anger and fear surround the Cypriot parliament – as protesters took to the streets to keep up the pressure on their politicians.
The government has until March 25 to raise the cash it needs to secure a bailout from the Eurogroup and the International Monetary Fund (IMF).
A state investment fund, a bond issue and a deal with Moscow have all been discussed, but time is ticking on and Cypriots want to know what the plan is.
Angela Toniou, an employee of the Bank of Cyprus said: “We’re afraid that the whole system is collapsing. If today, it’s the Cyprus Popular Bank, tomorrow, the rest of the banks. And if the banks collapse, the whole of Cyprus, everything, collapses. That’s what we’re afraid of.”
Cyprus’ banks have been closed while a solution is sought.
Outside the headquarters of Popular Bank, the country’s second largest, employees protested over their uncertain future. The bank has stopped customers withdrawing more than 260 euros a day.
In a sign that it is preparing for the worst, the Cypriot government has sought powers to impose controls on capital outflow from the island.
Wires > News
- 11:10 CET Seventeen killed in care home fire in Ukraine
- 11:09 CET French PM says he will not bow to labour reform protestors
- 11:07 CET U.S.-led coalition soldiers seen on frontline of new Kurdish…
- 10:39 CET Iran assembly head wins initial re-election vote – state media
- 09:32 CET Tropical Storm Bonnie bears down on South Carolina coast
- 09:31 CET First tropical storm of year to threaten U.S. heads for South…
- 05:34 CET Vintage plane crashed in Hudson River during emergency landing -…
- 04:15 CET Clashes between Islamic State, Syria rebels kill dozens near…