Cyprus underwent a bailout program and a significant bank deposit haircut during the economic crisis, but unlike Greece and Spain, it did not see the rise of a new left-wing populist party comparable to SYRIZA or Podemos. Giorgos Venizelos, lecturer in political communication at Cyprus University of Technology, explains that this was due to the absence of a new political actor capable of mobilizing voter anger and shaping a new narrative. Instead, familiar establishment figures dominated new parties, focusing on traditional issues rather than public discontent.

Venizelos notes that in Cyprus, reactionary and illiberal forces filled the political void, normalizing rhetoric that claims to defend democracy while undermining it. Comparing Greece and Spain, he highlights how different crisis dynamics and political strategies led to divergent outcomes, with Spain managing to contain the far right through social democratic alliances, while Greece experienced political fragmentation and the rise of authoritarian populism. The research stresses that crisis does not automatically lead to left-wing radicalism; political agency and grassroots mobilization are crucial.

The discussion also emphasizes the role of governmental crisis management, media narratives, and technocratic claims framing austerity as inevitable, which together fostered a sense of political helplessness or post-democracy in affected societies. Venizelos and his co-authors advocate for democratic populism that broadens participation as an alternative to authoritarian populism, underlining the importance of maintaining active social bases to resist institutional absorption and enable transformative change.