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Cypriots pessimistic over bailout future

Sunday, Mar 24, 2013 - 01:10

Mar. 24 - With Cyprus' banks on the verge of collapse, residents in the capital are pessimistic over the future of their economy. Jessica Gray reports.

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Cypriots seek comfort in religious hymns amid the country's worsening economic crisis. Many residents in the capital say new measures tied to a possible EU bailout will mean tough times ahead. Others are worried the European Union is working against its poorer members. (SOUNDBITE)(English) RETIRED BANK WORKER, LUIS PERENTHOS, SAYING: "The countries that manage, that govern the European Union, doesn't want the countries of the south -- that means Italy, Spain, Greece and Cyprus. So they find one way that they will push these countries out of the European Union." (SOUNDBITE) (English) FORMER BANK WORKER, LELLA, SAYING: "It will not finish well for us because Germany want to destroy us, Russia want to destroy us, all Europe want to destroy us. This is very clear now." On Sunday, Cypriot President Nicos Anastasiades flew to Brussels to hash out an 11th-hour deal to save the country from bankruptcy. Its membership in Europe's single currency bloc is believed to be hanging in the balance. Cyprus has until Monday to avert the collapse of its banking system and potential exit from the euro.

Cypriots pessimistic over bailout future

Sunday, Mar 24, 2013 - 01:10

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