Thousands Of High School Students Protest Bailout Deal In Cyprus

From Reuters:

(Reuters) - Cypriots vented anger in the streets on Tuesday and were desperate to learn what would happen to their savings, with the government yet to reveal details of controls it will impose to prevent a run when banks reopen after a painful bailout.

A special administrator was appointed to run the country's biggest bank, which will take over accounts from the second biggest bank as part of the restructuring package designed to bail out and rein in the oversized financial sector.

Cyprus's banks were ordered to remain closed until Thursday, and even then will operate under as-yet-undisclosed capital controls imposed to prevent depositors from emptying the vaults.

The Central Bank governor said the controls would be "loose" and would apply to all banks in the country. The restrictions would be "temporary" but he would not say what form they would take or how long they would last. Earlier, the finance minister said they could be in place for weeks.

Cyprus had faced bankruptcy and potential ejection from the European single currency without a rescue deal with international lending bodies. Now that the deal has been struck, it faces job losses and economic contraction.

Reuters journalists estimated up to 3,000 high school students protested outside parliament, the first major expression of popular anger after Cyprus agreed the 10 billion euro ($13 billion) bailout with the European Union.

"They've just gotten rid of all our dreams, everything we've worked for, everything we've achieved up until now, what our parents have achieved," said a student who gave his name as Thomas.

 Let me repeat two sentences from that excerpt from the Reuters article:

Cyprus had faced bankruptcy and potential ejection from the European single currency without a rescue deal with international lending bodies. Now that the deal has been struck, it faces job losses and economic contraction.

Gee, so glad a deal was reached.

One way or the other, working people, students and old people were going to be screwed by the bailout deal.

Young people the world over are awake to this.

The oligarchs and the media think since they knocked off Occupy, nothing else will spring up to take its place to oppose the New World Feudal Order.

But you can still see signs of unrest the world over.

You cannot keep screwing people time and time again, stealing more and more each time you rob them, sticking them with more and more of the bills and expect them to stay submissive forever.