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Cypriots march against EU bailout

Wednesday, March 27, 2013 - 00:39

March 27 - A Cypriot citizens group marches into the capital's cafes and restaurants encouraging people to join their protest against the bailout agreement to prevent the nation going bankrupt. Rough Cut (no reporter narration).

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(ROUGH CUT ONLY - NO REPORTER NARRATION) Cypriots gathered near their parliament on Tuesday (March 26) to vent their anger at a rescue deal struck to prevent bankruptcy. Protesters later marched through Nicosia's old town calling on other citizens to join them in their protest against the agreement struck between the government and the European Union. They stopped at shops, cafes and restaurants to hand out flyers. Cyprus's banks were ordered to remain closed until Thursday (March 28), and even then will operate under as-yet-undisclosed capital controls imposed to prevent depositors from emptying the vaults. The Central Bank governor said the controls would be "loose" and would apply to all banks in the country. The restrictions would be "temporary" but he would not say what form they would take or how long they would last. Earlier, the finance minister said they could be in place for weeks. Cyprus had faced bankruptcy and potential ejection from the European single currency without a rescue deal with international lending bodies. Now that the deal has been struck, it faces job losses and economic contraction.

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Cypriots march against EU bailout

Wednesday, March 27, 2013 - 00:39