Clear answers on whether or not from the National Solidarity Fund’s disbursement plan, are being sought by the Association of Laiki Bank Depositors and Bank Security Holders.

The statement by the President of the Republic further complicated matters, with those in the know speaking of a disagreement between Nikos Christodoulides and Makis Keravnos.

“The platform will now open for all those who missed the deadline to submit applications; a specific amount has been allocated in the 2026 budget, and a new plan is in place for 2027. This is something we discussed before the election. It’s something we began implementing after the election, and we will continue to do so.”
_{^{Nikos Christodoulides – President of the Republic}}

“The first thing that needs to be done is for the state to present a unified narrative. We can’t have one person saying one thing and another saying something else.”
_{^{Adonis Papakonstantinou – President of the Laiki Bank Depositors’ Association}}

READ ALSO: Laiki Bank depositors who suffered haircuts fear “disagreement” over compensation; issue an ultimatum to the President of the Republic for a meeting

As they explain, this does not affect them in this case, since the Solidarity Fund has a reserve of 240 million.

It was decided to give the President of the Republic until Tuesday, July 14, to respond to their request for a meeting. If he fails to do so, the two organizations will meet to decide on possible measures to take. It was made clear, however, that they do not wish to meet with the Minister of Finance.

“We represent thousands of people in distress, who have been calling us since yesterday—we’re talking about grandfathers, grandmothers, fathers, and mothers—people whom the state has ruined. The very least we deserve is a meeting with the president, rather than these conflicting opinions.”
_{^{Stavros Gialouridis – President of the Association of Bank Security Holders}}

READ ALSO: The foundation has been laid for the new Cooperative Bank: When will the sale of shares begin?

“Operation” Cooperative Bank

Today also marked the first official meeting of the Pan-Cyprian Cooperative Holding and Promotion Company following the approval of the prospectus by the Cyprus Securities and Exchange Commission.

“Between July 22 and November 17, 2026, a share offering will take place for the Pan-Cyprian Cooperative Holding and Promotion Company Ltd, whose primary purpose is the establishment of the Pan-Cyprus Cooperative Bank.”
_{^{Panikos Hambas – Chairman of the Pan-Cyprus Cooperative Holding and Promotion Company Ltd.}}

READ ALSO: President of the Republic on depositors affected by the haircut: The application platform will reopen for those who missed the deadline

The Cyprus Securities and Exchange Commission approved the public offering of up to 42 million new shares, with a par value of €1.

See the report by Kleio Vourkou: