Cypriots gathered outside the parliament in Nicosia during a protest on March 22, 2013.
Hundreds of Cypriot bank workers have staged a protest rally in the capital Nicosia, ahead of a parliament debate on a bailout to save the Mediterranean nation from bankruptcy.
The protest rally took place on Saturday near the presidential compound where protesters carried banners that read as “Hands off provident funds” and “No to the bankruptcy of Cyprus.”
“We are protesting to save our jobs and our provident funds. We are put in this situation by our European friends,” said a protester during the rally.
On Friday, a similar protest took place outside the parliament building.
The country has to raise 5.8 billion euros (7.5 billion US dollars) to qualify for a 10-billion-euro (12.9-billion-US dollar) bailout loan from the European Central Bank (ECB) and the International Monetary Fund.
Late on Friday, the Cypriot parliament approved at least three out of eight rescue measures hammered out by the government during an emergency session. The lawmakers adopted the law to restructure Cypriot banks, set up a “national solidarity fund”, and establish capital controls.
According to reports, the parliament is expected to reconvene to debate a possible bank levy after a meeting joined by eurozone finance ministers which is scheduled to be held on Sunday afternoon.
The European Central Bank (ECB) has set Monday as the deadline for Nicosia to secure a bailout deal with creditors. According to an EU source, the European bloc is prepared to eject Cyprus from the Eurozone in case they fail to reach an agreement.
The long-drawn-out eurozone debt crisis is viewed as a threat not only to Europe, but also many other developed economies in the world.
MAM/JR
