Cyprus bailout goes down to the wire
Reuters
2013-03-24
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Bank employees march through Cyprus amid fears they could lose their jobs in the financial crisis.
Protesters gathered at the finance ministry on Saturday (March 23), as the government raced to clinch a bailout deal with the European Union.
They have until Monday (March 25) to secure the package, or lose emergency funding for its stricken banks.
Union leaders here say workers have been "betrayed".
They warned that strikes could follow if the government takes any drastic measures.
To satisfy the bailout package, Cyprus has conceded to a levy on deposits over 100,000 euros.
The president is expected to head to Brussels on Sunday (March 24) to finalise negotiations.
Protesters gathered at the finance ministry on Saturday (March 23), as the government raced to clinch a bailout deal with the European Union.
They have until Monday (March 25) to secure the package, or lose emergency funding for its stricken banks.
Union leaders here say workers have been "betrayed".
They warned that strikes could follow if the government takes any drastic measures.
To satisfy the bailout package, Cyprus has conceded to a levy on deposits over 100,000 euros.
The president is expected to head to Brussels on Sunday (March 24) to finalise negotiations.
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