In Cyprus, The Economic Misery Is Just Beginning To Sink In…(A Look At Our Future)

Saturday, March 30, 2013
By Paul Martin

Nick Squires
Mar. 30, 2013

The deal has been struck, and now, Cypriots say, the betrayal is sinking in. Nick Squires reports on how the islanders are goin to need the luck of the gods to avoid plunging off an economic cliff.

As she counts another day’s paltry takings and frets about how to pay the rent, Dimitra Charilaou knows she is a tiny cog in the machine that drives Cyprus’s once thriving economy.
She owns a small hole-in-the-wall electrical supplies shop squeezed between a kebab joint and a dodgy-looking nightclub adorned with photos of blonde East European women in the old town of Nicosia, the island’s capital.

But multiply her predicament by 850,000 – the population of this former British colony – and it is clear that the island that claims to be the birthplace of Aphrodite, and which has streets named after Greek heroes like Odysseus, is going to need the luck of the gods to avoid plunging off an economic cliff in the wake of last week’s controversial bailout deal.

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