Cyprus Mail

Ex-Laiki depositors plan protest for March 26

Laiki investors decide on new date for their protest march

THE Association of former Laiki depositors (SYKALA) has rescheduled to March 26 a planned demonstration outside parliament and the Presidential Palace, a date coinciding with the haircut of deposits two years ago.

Members will march to parliament to hand a resolution to the House Speaker and party leaders, after which they will head out to the Presidential Palace and hand a resolution to President Nicos Anastasiades.

The demonstration had initially been planned for yesterday. In a statement, SYKALA said members preferred to hold it on a date when the President would be in Cyprus.

The burned depositors demand that they take charge of the administration of legacy Laiki Bank, because in the two years since the ‘bail-in’ the lender’s administrator – essentially the Central Bank – has done nothing to recover any assets.

Laiki’s uninsured deposits (€100,000 and above) were wiped out in March 2013 when the insolvent lender was wound down as part of an international bailout deal.

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