Cyprus will have to ask for an EU bailout of its banking sector, according to the head of the country's second-biggest bank.

The country has been in deep recession for the last year, and the Cyprus Popular Bank has been seriously affected by the economic crisis in neighbouring Greece.

Many university students in Cyprus fear that the bailout will lead to reduced government spending and less jobs.

They say the doors to their desired professions may already be closing in a country with an already increasing unemployment rate. 

Al Jazeera's Selina Downes reports.