Cypriot Press: ire and disenchantment over bail-out plan

Almost the entirety of Cyprus’ Sunday press adopts alarmist headlines and strong language to convey a mixture of emotions, such as anger, disappointment and betrayal that overwhelmed the Cypriot people upon hearing the latest Eurogroup decision. The Eurogroup decision for a haircut on Cypriot bank deposits is described as unprecedented, myopic and catastrophic; in some cases even an act of vengeance and punishment for the previously successful economic record of the island. Newspapers also present the reactions of the Cypriot parties; report on the critical vote for or against the bail-out bill in the Parliament and President Nikos Anastasiadis’ justifications for the agreement. Finally, they point to the reactions of the Cypriot citizens who rushed at ATMs to withdraw their money as a harbinger of a possible bank run that the country is faced with on Tuesday morning (Monday is a bank holiday in Greece and Cyprus).