Cyprus-Forum.com

[SKI-preo]

Should Laiki and Bank of Cyrpus follow Slovakian Banks to take Greece to Arbitration over the haircuts at the International Center for Settlement of Investment Disputes (ICSID) ?http://www.ekathimerini.com/4dcgi/_w_articles_wsite2_1_09/05/2013_497927


Postova said it and shareholder Istrokapital SE are suing Greece at the International Center for Settlement of Investment Disputes (ICSID), accusing Greece of breaking treaties concluded with Slovakia and Cyprus in carrying out the bond swap.

"Greece adopted measures which broke international agreements," CEO Marek Tarda - who owns Istrokapital - said in a statement. "By doing that, it damaged the value of our investment. It is our duty to protect our investment and fight for our rights."

Investors were forced to take a 53.5% loss on Greek sovereign debt as Athens sought to cut debt and secure a Eurozone bailout. Postova Bank reportedly held Greek bonds with a nominal value of around €500bn, and lost approximately €275m due to the haircut.

Cypriot banks who suffered because of the Greek hair cut have an obligation to their borrowers and Cypriots in general to join this legal action. There will be economy in joining these proceedings against Greece now rather than running separate proceedings.

[observer]

It's only worth suing if the person you are suing has any money. Greece has no money - not worth suing. Only lawyers will win.

[SKI-preo]

was the hair cut legal? that is the issue Greece sshould not be let off the hook even if it take 200 years to pay its debts.

[GreekIslandGirl]

There's a chain of events here and it doesn't stop with the Greeks just because you 'Australians' are too stupid to think any further than one step.

[Paphitis]

Yes, Cyprus should sue Greece and whilst where at it also claim war reparations for the 74 Coup!

[B25]

They should be suing the EU for forcing such a drastic action on Cyprus or anywhere else.
Greece is also a victim of the EU hegemony.

[Get Real!]

Yes, Cyprus should sue Greece and whilst where at it also claim war reparations for the 74 Coup!

If Greece thinks it’s a good idea to sue WWII Germany then surely the much more recent 1974 catastrophe they orchestrated against Cyprus has to be worthy of some reparation!

[Get Real!]

They should be suing the EU for forcing such a drastic action on Cyprus or anywhere else.
Greece is also a victim of the EU hegemony.

Get a reality check. Who said that bankers are obliged to do what you ask of them when you need to borrow?

If those traitors hadn't fucking wasted so much money on Greek dirt they wouldn’t have needed a bailout would they.

[kurupetos]

Should Laiki & BoC sue Greece?

Although most of the blame goes to the previous RoC government, I think they should go ahead and do it.

The people of Greece and Cyprus must be punished for taking wrong decisions, i.e. voting incompetent politicians. Democrary comes with responsibility, and when people choose to vote unpatriotic, internationalist, Zionist NWO servants, then they must be punished.

[SKI-preo]

Individual members of the profligate Greek public service should have their assets seized and auctioned off to cover Laiki & BoC savers' losses.

The Greek Government breached the conditions of the bonds and since Greece is being prevented from defaulting/going bankrupt then Greece should recover funds raised by bonds and spent inappropriately. This should be pursued even if it takes Greece 200 years to pay its debts.