Riot in Cyprus as Citizens Demand Their Money Back - Gainesville Coins News
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Riot in Cyprus as Citizens Demand Their Money Back

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Riot in Cyprus as Citizens Demand Their Money Back
One of the depositors who lost their money in the Bank of Cyprus bail-in demanding answers. (Cyprus Daily, click for original story)
One of the depositors who lost their money in the Bank of Cyprus bail-in demanding answers.
(photo: Cyprus Daily, click for original story)

Depositors in the Bank of Cyprus, who were involuntarily made "bondholders" when their deposits were seized during the government bail-in of the failed bank, today besieged Bank of Cyprus headquarters, demanding their money.

An angry crowd gathered at the front entrance to the building, demanding that management come out and face them. When there was no response, some people tried to enter the building, but were blocked by police. This set the crowd off, as they began breaking flower planters in front of the building, banging on the windows with their protest signs and the public ashtrays set near the front door, and throwing rocks.

Calm was restored when the leader of the movement, Fivos Mavrovouniotis, appeared, and announced that the President of Cyprus would meet with him on Thursday. Mavrovouniotis, who has been head of the organization of depositors demanding their money back since 2012, warned that if the government did not resolve the situation, violence could result.

by Steven Cochran

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