BEIJING, March 22 (Xinhuanet) -- Bank employees in Cyprus have gathered to protest the government’s handling of the banking crisis that has left the country on the verge of bankruptcy.
About 100 demonstrated against possible job cuts outside the country’s Parliament in the capital Nicosia. They tried to enter the building but were pushed back by police. The main road was blocked as scuffles broke out but no injuries were reported.
Cyprus has been told it must raise the 5.8 billion euros needed to qualify for 10 billion euros in rescue loans from the and International Monetary Fund. If it does not find a way by Monday, the European Central Bank says it will cut off emergency support to the banks, letting them collapse. That would throw the country into financial chaos and, ultimately, cause it to leave the , with unpredictable consequences for the region.
(Source: CNTV.cn)