Cypriots protest against bailout talks

PTI Nicosia | Updated on March 12, 2018 Published on March 25, 2013

Hundreds of Cypriot demonstrators rallied outside EU offices and the presidential palace in Nicosia yesterday to protest against a possible bailout plan for the near-bankrupt island.

Protesters slated President Nicos Anastasiades and the “troika” of the European Union, the International Monetary Fund and the European Central Bank as Anastasiades held last-ditch talks with creditors in Brussels.

About 500 members of the communist AKEL party gathered outside the offices of the European Commission offices chanting: “Don’t bow, people of Cyprus, stand up for your rights,” and “Troika prints euros and buys nations.”

“We are protesting against the intentions of the troika who are not considering the people of Cyprus, but only figures and money,” party member Andreas, a pensioner who declined to give his surname, said.

“Their main concern is about Cypriot banks and that goes against the basic principle of the EU, guarding people’s wellbeing,” he said.

AKEL, which has 19 seats in the 56-member Parliament, had refused to sign an agreement on the terms on offer while it was in power before Anastasiades’s election last month.

“Anastasiades is responsible for this,” said Charles Vassiliou, another AKEL member.

“He listens to the troika. Akel would have handled the situation very differently. We would never have put Cyprus hostage to the troika. We would have quit the Euro zone and gone back to the (Cypriot) pound.”

The other protest at the presidential palace involved around 200 people, mostly bank workers whose jobs and pensions are on the line, holding a banner saying: “We will not become slaves of the 21st century.”

Published on March 25, 2013

A letter from the Editor

Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!

Support Quality Journalism
This article is closed for comments.
Please Email the Editor
You have read 1 out of 3 free articles for this week. For full access, please subscribe and get unlimited access to all sections.