With Cypriots facing an unprecedented confiscation of part of their savings accounts to help pay for an international bailout from the same lenders that have put onerous austerity measures on Greece in return for rescue monies, Greek Prime Minister offered support to Greece’s compatriots.
“Greece has stood and is standing on Cyprus’s side in this challenge. After all, Greece has been in a challenge for three years now,” Samaras said about his country’s crushing economic crisis. While Greece has imposed pay cuts, tax hikes and slashed pensions, it has not seized depositors money as has been proposed for Cyprus.
“But you must remember: Prosperity and growth will return soon; both in Cyprus and in Greece. The capacity of Hellenism to stand firm in hardship and to progress has been proven many times. It will be proven once again. As long as we maintain our faith, we shall emerge from the crisis stronger and more united,” said Samaras.
Greece has promised depositors in Cypriot bank branches in Greece that their savings will not be touched. The government is planning to have a Greek bank take over the branches.
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