Sharing the burden
Sharing the burdenWe examine the human cost of the Cyprus bailout.
A police officer speaks on a radio as customers queue up outside a branch of Laiki Bank as they wait for the reopening of the bank in Nicosia March 28, 2013. REUTERS/Yorgos Karahalis
Should governments be allowed to reach into your pockets during an economic crisis? Uninsured accounts at the new Bank of Cyprus stand to lose as much as 40 percent. Cyprus’ president has called on citizens to “share the burden” of solving the crisis. In some places a move like this may have resulted in mass protest but, so far, Cypriots have been calm. We examine the human cost of the bailout and whether future bailouts will always include a cut from people’s earnings. Join us at 1930GMT.
In this episode of The Stream, we speak to:
Alexander Apostolides @alexapostolides
Lecturer of Economic History, European University Cyprus
Fiona Mullen @FionaMullenCY
Director, Sapienta Economics
George Iordanou @iordanou
Cypriot Blogger and Ph.D. Student, University of Warwick
Michalis Simopoulos @makispeaks
Community Media Coordinator, Cyprus Community Media Centre
Co-Organizer, CyprusAid concert
Project Coordinator, Project And Then
Project And Then Facebook page
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