NICOSIA, Cyprus (AP) — The moment word broke that Cypriot lawmakers in Parliament had voted down a bailout deal that would have raided everyone's savings to prop up a collapsing banking sector, a huge cheer rose up from hundreds of demonstrators gathered outside that echoed through the building's corridors.
Many relished it as a kind of David-against-Goliath moment — a country of barely a million people standing up to the will of Europe's behemoths who wanted it to swallow a very bitter pill to fix its broken-down economy.
"Shame on Europe for trying to snatch people's savings. It's a mistaken decision that will have repercussions on other economies and banking systems," said protester Panayiotis Violettis. "People have stopped trusting the EU which should be our protector."
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