One Month Later: What Cyprus Thinks In The Aftermath Of Its Bank Sector Collapse?

Tyler Durden's picture

Curious what the Cypriot people think just over a month after the most dramatic European banking sector collapse in years, and subsequent first bank sector bail-in and depositor impairment ever? Courtesy of Bloomberg, which summarizes a poll conducted via Symmetron and posted in Kathimerini Cyprus we now have an idea of what the still stunned Cypriot population thinks.

The Cyprus financial crisis is fault of country’s political, economic and social systems, not foreign institutions such as troika, according to 84% of Cypriots in poll by Symmetron published today in Kathimerini Cyprus. Poll also showed:

  • Of 800 people questioned, 68% said bankers were most responsible for crisis, 63% said politicians next most to blame, 48% said central bank
  • 79% said previous President Demetris Christofias and his govt is more to blame vs 13% for current administration led by President Nicos Anastasiades
  • 54% said it was mistake for parliament to vote against 1st loan deal
  • 68% said they don’t have enough money to meet direct needs, pay financial obligations
  • 70% said personal economic situation to worsen over next 12 months
  • 92% no longer trust central bank
  • 66% said current govt actions to confront crisis not enough
  • 64% against exit from euro area
  • 73% said faithful implementation of loan agreement won’t lead country out of crisis
  • Symmetron conducted poll April 22-26; margin of error +/-3.5 percentage points