Cypriot depositors prepare legal battle over EU bank bailout

Within one week in June, Cypriot Andrew Georgiou suffered a massive heart attack and his father was diagnosed with leukaemia, just as they were fighting to recover much of their life savings wrapped up in the country’s EU-led bailout.

Georgiou is one of an estimated 20,000 account holders who had large amounts of savings wiped out almost overnight at Laiki, the island's second-largest bank, which was wound down under the €10 billion international aid package.

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