Cyprus Mail
Cyprus Health

Bondholders want free psychological counselling from health ministry

Health Minister Giorgos Pamboridis

Bondholders who lost all their money in the banking collapse three years ago are asking for free psychological support and medication, it emerged on Tuesday.

In a letter to Health Minister Giorgos Pamboridis, their association said that they had contacted him twice before – June 2015, May 2016 — but did not receive a reply.

“If we do not receive your answer in a week from today (Tuesday), we will consult our lawyers whether there was a case to take to the administrative court,” the association said.

The association asked the ministry to name one state psychologist and one psychiatrist in every city, who would treat members and their spouses who need it for free, irrespective if they were eligible for free healthcare.

“Medication should also be free if the psychiatrist considers it necessary.”

The private holders of convertible enhanced capital securities issued by the Bank of Cyprus and now-defunct Laiki Bank claim they were mis-sold financial products, which were essentially wiped out following the March 2013 events, and they demand to be compensated.

Many had also drawn loans using the securities as collateral, which they are now being asked to repay.

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