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Cyprus has 'no intention of leaving the euro'
Cypriot president Nicos Anastasiades has assured civil servants that "in no way
will we experiment with the future of our country" by exiting the euro.
Cyprus' President Nicos Anastasiades assured citizens the situation was "contained"
in the wake of a tough bailout deal with the European Union.
He said that while the current situation on the country is "tragic", that the bail-out
"averted the risk" of bankruptcy.
Mr Anastasiades - known for his fiery temper - was reported to have threatened
a euro exit during the fraught all-night negotiations on Sunday which resulted in
a deal forcing heavy losses on uninsured depositors in the island's two largest banks.
But on Friday he declared that while the eurozone lenders made "unprecedented
demands that forced Cyprus to become an experiment", an exit from the currency
union is not on the table.
"We have no intention of leaving the euro," he said, addressing civil servants in Cypriot
capital Nicosia "In no way will we experiment with the future of our country.
The situation, despite the tragedy of it all, is contained."
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