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Fears of social unrest and further job losses in Cyprus

As Cypriots grow increasingly concerned about their finances, there are fears of potential social unrest.

Bank customers now face losing up to 60 percent of savings over 100,000 euros, as part of the island’s bailout deal.

Analysts also say that businesses could be further squeezed, leaving more people without work.

“(I) lost my job, my wife is going to get her wages cut even more. She got it cut a few months ago and now they will cut her wages even more. So the expenses is about 60 percent more than our income,” said resident George Polydorou.

“We can’t handle it. So we don’t know what to do. Our nearest option is to maybe go abroad.”

Anger over the financial rescue plan has already spilled onto the streets.

What is being demanded in Cyprus is also sending shockwaves across Europe. According to one poll, around three quarters of Greeks think bank deposits could also be hit in other countries, including Greece.

Copyright © 2014 euronews

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