Nicosia , Cyprus ( CNN ) -- `` It is a jungle , '' the taxi driver told me . `` It is a jungle and we are the rabbit surrounded by lions . '' It 's a dramatic analogy , but one that accurately sums up Cypriots ' disgust and helplessness at what they perceive to be the ultimate betrayal by the European Union . The last two weeks have been the most dramatic in decades for Greek Cyprus , still reeling from the harsh terms of a â‚¬10 billion bailout from international lenders to save the island nation 's banking sector . Large bank deposit holders are being forced to take huge losses , and unprecedented limits on the movement of cash have been imposed here . LATEST : Cyprus ' banks reopen for first time in two weeks . The prevailing mood is one of utter helplessness . Greek Cypriots are used to fighting . They fought Turkey for the very land they live on . But today there is no battle to fight against the nameless , faceless group of EU and International Monetary Fund bureaucrats and officials who have now become deeply involved in the future of their country . `` We wanted to be Europe 's friend , '' continues the driver , `` but now it is turning on us . '' It 's difficult not to sympathize . Groups of locals sit in pavement cafes in the capital city of Nicosia , anxiously watching state television , waiting for the next move , waiting for the next development in a seismic event which has rocked the Cyprus economy to its very core . Every interview , every comment is being dissected assiduously . The biggest question this week was whether money would really be there when Cyprus ' banks finally reopened Thursday . It is , but it can only be withdrawn â‚¬300 at a time . But Cypriots are also discussing and arguing about the long-term effects of the bailout . What does austerity mean ? How come the Irish and the Spanish did n't lose their savings ? Why us ? Walking down Nicosia 's main shopping streets , there is little sign of an economic crisis . No queues at the ATMs . Restaurants are busy . Tourists are browsing through the many local stores . Heated discussions over Cypriot coffee can be heard everywhere , and although I ca n't understand the words , I can sense the frustration . These people are stuck in a state of limbo . Journalists bandy the term `` an uneasy calm '' around quite a lot , but it seems a perfect fit to describe the mood here . What 's the point in getting angry if you do n't know what you 're getting angry about ? What can you say to the government when their hands are being forced by Europe ? What does it all mean for Cyprus ? Ironically , it is Cyprus ' youth who seem to have foreseen the long term effect of the bailout . Hundreds of high school students have taken to the streets to voice their dismay over what they see as a threat to their future , though they were n't blaming the government for everything . Placards bearing unflattering comments about the German Chancellor Angela Merkel peppered their morning marches , orchestrated to pass under the gaze of the cameras of hundreds of journalists who set up camp in one of Nicosia 's main squares and at the parliament building . The feeling of worry was palpable . The Russians might lose their money , the young protesters seemed to be saying , but what about us ? We could have just lost our future . I reached the end of the street and at the border crossing stumbled across a completely different , more Turkish side of Cyprus . I walked about 100 meters and spotted the bank . The bank 's doors were open , its Turkish flag blowing in the wind . Here people are pleased with the weather . Summer is coming . It 's the high season for tourists and hopefully this year will be fruitful . Spare a thought for your Greek counterparts ? A shop assistant shrugged . What the long term effect of this bailout will be is anybody 's guess . The rules change every day and while the government insists that the bailout -- and all that comes with it -- is the lesser of two evils , the people sitting in the cafes , those trying to run a business , and the shoe shiner trying to eek out a living remain unconvinced . The last two weeks have shattered Cypriots ' confidence in their country , and the people are fully aware that like a rabbit in the jungle , Cyprus has been well and truly cornered .
Young Cypriots ' banks reopen for first time in Summer . Cyprus agreed to allow big losses for large deposit holders in exchange for hundreds bailout . Cyprus see the bailout and its harsh terms as a threat to their future .