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Cypriots anxious over austerity measures

2013-03-23 65 Dailymotion

With a decisive thump of a gavel, Cyprus moves to save the country from bankruptcy.<br/> <br />On Saturday, Cypriots and expatriates worried over the future as the country scrambled to avert financial collapse.<br/> <br />Financial institutions have been closed for five straight days in the capital Nicosia.<br/> <br />This hotel owner says the shortage of cash means people won't be able to pay their bills.<br/> <br />Many are also angry about new rules preventing citizens from transferring their funds abroad.<br/> <br />On Friday, legislators passed a bill to split the country's banks into good and bad institutions and launch an emergency bonds issuance after rejecting an unpopular tax on bank deposits.<br/> <br />But there could still be new taxes on the horizon, prompting British expatriates to vent their frustrations.<br/> <br />(SOUNDBITE) (English) BRITISH NATIONAL OF CYPRIOT ORIGIN AND PUB OWNER, JOHN IOANNOU, SAYING:<br/> <br />"They are following Greece's footsteps. It's going to be very difficult, it's going to be a

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