Photograph by Alessandro Penso

Cyprus: Scenes From a Crisis

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    On March 25, Cyprus agreed to a €10 billion bailout deal that will devastate its financial-services sector—responsible, along with the much smaller tourism industry, for 80 percent of the nation’s gross domestic product and 72 percent of its employment. For Cyprus’s 800,000 citizens, the sense is that the nightmare has just begun.

    In Nicosia, Demetra Kattou, a 47-year-old teacher, and her husband, bank employee Panbos Kattos, 52. They are afraid of losing their jobs. Kattos says, “I can't find another job at my age.”

    Photograph by Alessandro Penso
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    A view of Nicosia from the old-town district.

    Photograph by Alessandro Penso
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    In Nicosia, Russians residing in Cyprus protest near Parliament.

    Photograph by Alessandro Penso
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    A poster for Wake Up Cyprus, a citizens’ protest movement against the bailout troika of the European Union, the European Central Bank, and the International Monetary Fund. The movement is collecting signatures to call for a referendum on whether Cyprus should stay in the euro.

    Photograph by Alessandro Penso
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    A TV reporter covers the crisis in Nicosia.

    Photograph by Alessandro Penso
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    At the presidential palace in Nicosia, Nicos Anastasiades, who has been president of Cyprus since Feb. 28, delivers his first televised address after meeting with the European Council.

    Photograph by Alessandro Penso
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    Students protest in front of the presidential palace.

    Photograph by Alessandro Penso
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    Students protest in front of Parliament.

    Photograph by Alessandro Penso
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    Minister for Foreign Affairs Ioannis Kasoulides speaks to journalists in Nicosia after the celebration of the Greek Revolution.

    Photograph by Alessandro Penso
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    Ionna Constantinou, a 24-year-old lawyer in Nicosia.

    Photograph by Alessandro Penso