Cyprus Bailout: Public Anger At Eurozone Deal

By Tom Parmenter, in Nicosia

Cypriots have reacted with anger over the bailout deal that will almost certainly plunge their country into a deep recession.

A deal has been struck to avoid bankruptcy, but the financial fallout is terrifying ordinary people.

Simos Mantzouranos runs a small printing business and is furious at what he believes is the EU bullying Cyprus into accepting a deal.

He told Sky News: "It feels like we're a small fish that has been forced into a hole only to be eaten by a big shark.

Simos Mantzouranos believes Cyprus has been bullied into the deal

"Everything is on hold now but people will take their money out of Cyprus, the Russians certainly will, so businesses will close - it's going to be a bad few years for my country."

There are also growing calls for Cyprus to ditch the euro and revert to the Cypriot pound.

Nicholas Papadopoulos, chairman of the Cypriot parliament's finance committee, told Sky News: "We wish to stay in the eurozone - but after the decisions of the European Union I think that exiting the eurozone is something that needs to be explored."

Part of the EU deal means the second biggest bank in Cyprus will be wound up.

Maria Constantinou woke up to the news from Brussels that the bank she joined as a teenager in 1988 would be closing.

In a Nicosia cafe, the 43-year-old told Sky News: "It is scary, like a horror movie but it is real."

Her husband works in IT at the same bank, they have four children and now face financial ruin.

She added: "It is my life. I still cannot believe what happened - we have loans to repay, we have the children to help them study to the universities.

"We don't know what to do - everything has changed."

Readjusting to the new financial order will be a slow painful process. And there is an even more immediate worry: cash is king at the moment in Cyprus but ATMs are rationing people's euros.

Many people have resorted to stashing wads of cash in their homes - surviving this financial crisis is forcing people to do whatever they have to to look after their families.

It will be like that for some time.

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