Cyprus economic victims fight back

A renewed wave of protests by securities holders and depositors that have been gravely affected by the measures which accompanied the bailout of Cyprus threatens to stir up social upheaval in the island, at a time when already political tensions run high.

Hundreds of securities holders have filed lawsuits against banks, claiming that they were duped into investing money in high risk securities which turned into equity with severe losses. “With these lawsuits we request that some people will be punished for the disruption, the pain and the losses they caused so that the sense of justice is restored,” Leontios Hatzivasilis, a member of the securities holders association has said.

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(Photo: Melissa Wall/