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Tokas, Nikos


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Phileleftheros - Cyprus | 05/03/2013

Cypriots dread austerity dictates

The finance ministers of the Eurozone on Monday approved the Cypriot government's request for a bailout package to be agreed by the end of March. Cyprus says it needs loans amounting to approximately 17 billion euros, mainly to help its struggling banks. The liberal daily Phileleftheros describes the feelings of the citizens while they wait for the austerity memorandum: "The more money the borrower asks for, the more hostage he becomes to the lenders' demands. … In this respect, considering the billions the Cypriot economy needs to get back on its feet, we Cypriots will be forced to sing to the tune of our lender-rescuers like birds on the roof. … It's better to try not to think of the austerity memorandum which the lenders are preparing for us. It's like being a prisoner waiting to be shown to the damp cell where he will spend most of his life. Hoping that the lenders will be merciful."

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