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Laiki Bank

Greeks Appeal To Nicosia Lawmakers For Return of 300 Million Euros

Nearly 1,000 Greeks are seeking the return of 300 million euros, which were confiscated by the Republic of Cyprus in 2013. The Greek depositors delivered a letter to lawmakers in Nicosia on Friday, asking for pressure to be placed on...

Greek Judges Extradite Businessman Michael Zolotas to Cyprus

The Greek Council of Appeals Court on Tuesday reached a verdict concerning the extradition of Greek businessman Michael Zolotas to Cyprus. Zolotas is allegedly connected to a bribe paid by his company to former Cypriot Central Bank governor Christodoulos...

Waiting for Vgenopoulos; Cypriot Court Postpones Bank Bribery Case to July 20

In a marathon session in Cypriot courts on Monday, the case against businessman Andreas Vgenopoulos was discussed. The main basis of the case concerns a 1-million-euro payout to former central banker Christodoulos Christodoulou by Greek shipowner Michalis Zolotas in...

Greece's Supreme Court Orders Extradition of Two Former Greek Bankers to Cyprus

Areios Pagos, Greece's Supreme Court, ordered on Friday, the extradition of two former Greek bankers, Efthymios Bouloutas and Markos Foros, to Cyprus who were sought after when they failed to appear before a Cypriot court. The Greek judicial authorities had decided...

Cyprus Seeks €4 Billion in Damages from Greece for Laiki Bank

Defunct Cypriot bank Marfin Popular has resorted to the International Center for Settlement of Investment Disputes (ICSID) to seek damages of more than 4 billion euros from Greece over losses from the PSI debt restructuring in 2012. The story appeared...

Cyprus Gambling On Casinos For Rebound

Being saved from an economic and bank collapse by a pending 10 billion euros ($13 billion) bailout from international lenders - but at the price of confiscating bank accounts and imposing harsh austerity measures - Cyprus is going to...

Cypriot Depositors Take Money Out By Sea

With up to 80 percent of their bank accounts being confiscated by the government and tight capital controls preventing access to the rest, Cypriot depositors are trying all kinds of means to take their money off the island, including...

Bank of Cyprus Whacks Big Depositors

Depositors with more than 100,000 euros ($130,000) in uninsured accounts at the Bank of Cyprus stand to suffer big losses under a restructuring plan devised as a way to confiscate their holdings and trigger release of a 10 billions...

Cypriot Politicians’ Loans Written Off

With banks confiscating up to 80 percent of uninsured deposits over 100,000 euros ($130,000) and the country facing a deep economic crisis, Cyprus has forgiven loans to politicians and companies while others are generally being required to pay in...

Anastasiades Says Cyprus Will Keep Euro

Despite harsh terms being imposed on orders of international lenders to get a 10 billion euros ($13 billion) bailout, Cyprus will not quit the Eurozone, newly-elected President Nicos Anastasiades said, even though he had campaigned against them. Uninsured depositors with...