Door left open for depositors’ claims against EU

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Door left open for depositors’ claims against EU
 © CyprusMail 2020
By Alper Ali Riza

 

On April 21, 2016 the Advocate General Nils Wahl gave his opinion to the European Union’s Court of Justice over the appeals by Cypriot depositors concerning the 2013 haircut, in which he recommended their appeals be dismissed.

They had sought compensation for the loss of their deposits which they claimed was caused by the European Commission and the European Central Bank (ECB) during the euro zone crisis of 2013. They argued that the ‘hair cut’ which deprived them of their deposits was foisted on Cyprus by...


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Door left open for depositors’ claims against EU


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Article Tags: depositors, claims, against,