Cyprus Mail
Cyprus

Bondholders mull fielding their own presidential candidate

Representatives of the bondholders

Bondholders who lost money during Cyprus’ banking crisis have said if their issues were not resolved by the current political leadership, they would field their own presidential candidate in 2018.

Members of the bondholders association passed a resolution to that effect during their meeting on Sunday, CNA reported on Tuesday.

The resolution said that if a solution to their problems was not found by the end of February 2017, they would appoint their own candidate for the February 2018 elections.

The resolution was adopted with one vote against, CNA said.

On Sunday the bondholders said they would step up measures for compensation.

They want to be compensated to the tune of €100,000 “in a manner to be agreed” in line with the deposit guarantee scheme extended to bank customers but without compromising their right to have all their money returned.

The bondholders group represents thousands of investors who lost around €700m when the Bank of Cyprus and Cyprus Popular Bank, or Laiki, bonds were wiped out in March 2013.

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