Neophytou calls for fund to compensate bondholders and depositors

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Neophytou calls for fund to compensate...
 © CyprusMail 2020
A proposal for the creation of a compensation and social cohesion fund to compensate depositors and bondholders who lost money in the 2013 ‘haircut’, was tabled at Friday’s House plenum by Disy leader Averof Neophytou.

The aim of the fund, Neophytou’s proposal said, was to compensate bank depositors who lost money in March 2013, when the decision to close down Laiki bank – then Cyprus’ second-largest lender – and recapitalise the Bank of Cyprus – the largest lender – with uninsured deposits, which were turned into bank stock to the tune of 47.5 per...


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This article was automatically added to our system 23-6-2017

Neophytou calls for fund to compensate bondholders and depositors


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Article Tags: neophytou, calls, compensate, bondholders, depositors,