They are also suing the European Commission amongst four lawsuits demanding compensation after losing deposits in Bank of Cyprus and the Cyprus popular bank.
The suits say that the ECB and EC;
“deprived the savers of their money and manifestly and gravely disregarded the limits on their power by inducing the premature passing of a bail in tool on deposits”
The are also challenging the capital controls placed on deposits over the Cyprus crisis.
At the time it did amaze me that they hit deposits very quickly but with all the talk of Russian money parking up in Cyprus it was easy to put 2 and 2 together on why they did.
