Many people in recession-hit Cyprus are deeply disillusioned with both European institutions and their political leadership and will turn their backs on a European vote in May, a public opinion poll beamed on state television late Friday night said.

The poll was the first after Cyprus received bailout just a year ago which involved harsh austerity measures and also shuttered the banking system.

Only 38 percent of voters said they will definitely go to the polls on May 25 to send six country delegates to the European Parliament, with a further 24 percent saying they will probably vote.

Many Cypriots believe that their European partners dealt them a raw deal when the Eurogroup and the International Monetary Fund pulled the eastern Mediterranean island from the brink of bankruptcy to the tune of 10-billion euro ($13.8 billion) bailout in March 2013.

The bailout involved harsh austerity measures and an economic adjustment program which cost most Cypriots up to 30 percent of their income.

According to Eurostat, the unemployment rate of Cyprus in February is 16.7 percent, marking the highest increase among the European Union (EU) members.

However, the worst part of it was a world first bail-in, the recapitalization of the island’s primary bank by seizing uninsured deposits of over 100,000 euros and the winding down its second largest lender.

These moves turned off the tap of liquidity leading to the stagnation of the economy. Growth is expected to be back in 2015 with a weak gross domestic product growth of 0.9 percent.

The poll showed that mistrust towards the European Union and the euro rose to 55 percent from an almost general acceptance when Cyprus joined EU in 2004.

Global Times