Cyprus leader faces anger at bank-saving EU bailout | Bangkok Post: news

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Cyprus leader faces anger at bank-saving EU bailout

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President Nicos Anastasiades tried Saturday to appease Cypriots angry at having to pay from their bank deposits for a chunk of an EU bailout deal which his government signed to rescue the island's banks. 

Cypriot President Nicos Anastasiades arrives at the EU headquarters in Brussels, on March 15, 2013. Anastasiades on Saturday tried to appease Cypriots angry at having to pay up from their bank deposits for part of an EU bailout deal which his government signed to rescue the island's banks.

Faced with protest calls, the president said he will address the nation on Sunday to defend the controversial deal which he admitted was "painful" but insisted was the only way to save the banking sector from total collapse.

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