x

Society

Bondholders Storm Bank of Cyprus

NICOSIA – Bondholders furious that nearly half their savings – in some cases all their money – was confiscated to prop up banks and pay for bankers mistakes attacked the Bank of Cyprus March 23.

Initial reports said that the angry crowd caused damage to the building before being repelled by riot police called in to protect the institution.

At least one window of the glass-covered building in the capital Nicosia was smashed and another three cracked when several people among around 200 demonstrators hurled stones and other missiles, witnesses said, according to Reuters.

One woman was knocked unconscious during the protest and was taken to hospital. There was a heavy police presence in the area.

Reneging on a campaign promise, President Nicos Anastasiades two years ago authorized the seizure of 47.5 percent of bank accounts over 100,000 euros as part of a deal to get a 10-billion euro bailout.

Those with accounts in the Laiki Bank, which was closed, lost everything and many Cypriots have lost a big chunk of their savings to satisfy the banks, government and the Troika of the European Union-International Monetary Fund-European Central Bank (EU-IMF-ECB) that put up the rescue money, and also demanded more austerity measures.

Cypriot bankers lost billions in bad loans to Greek banks that went bust and in holdings of Greek bonds that were devalued 74 percent but haven’t been reprimanded, prosecuted or otherwise disciplined while the depositors have had to pay for their mistakes.

 

RELATED

NICOSIA, Cyprus  — Cyprus said Saturday it’s suspending processing all asylum applications by Syrian nationals because large numbers of refugees from the war-torn country continue to reach the island nation by boat, primarily from Lebanon.

Top Stories

Columnists

A pregnant woman was driving in the HOV lane near Dallas.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

Video

New York Greek Independence Parade Honors 1821 and Grim Anniversary for Cyprus (Vid & Pics)

NEW YORK – The New York Greek Independence Parade on Fifth Avenue, commemorating the 203rd anniversary of the Greek Revolution of 1821, was held in an atmosphere of emotion and pride on April 14.

CHICAGO – The National Hellenic Museum (NHM) presents the Trial of Pericles on Wednesday, April 17, 7 PM, at the Harris Theater, 205 East Randolph Street in Chicago.

NICOSIA - Cyprus - home to United Kingdom military bases where fighter jets were used to help defend Israel from an Iranian attack using missiles and drones - has stepped up security on the island amid fears the Middle East conflict could worsen.

A plot of land for sale in Tripoli, Arkadia Prefecture, 268.

ATHENS - Expecting another record year in tourism to surpass the numbers in 2023 in arrivals and revenues, Greece’s infrastructure - particularly on overwhelmed islands - isn’t adequate to deal with the demands even as more resorts keep opening.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. [email protected]

You may unsubscribe at any time using the link in our newsletter.