Economy

Cyprus under siege

Print edition : April 19, 2013

In Limassol, the port city in southern Cyprus, protests at a Greek independence day parade on March 25. Photo: Pavlos Vrionides/AP

People withdrawing money from a Laiki Bank ATM in central Nicosia on March 25. Photo: YANNIS BEHRAKIS/REUTERS

President Nicos Anastasiades (centre) leaves after attending a Eurogroup meeting in Brussels, Belgium, on March 25. Photo: Jock Fistick/Bloomberg

Since those likely to lose from letting Cypriot banks slide and from imposing austerity on a small nation are not part of the core in the eurozone, an extraordinary bailout has been imposed on the country.
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