Justice Minister Ionas Nicolaou has stated that Cyprus may ask for the extradition of some Greek nationals in case evidence is found that they are responsible for the near collapse of the banking systmem.

When asked if he meant former Cyprus Popular Bank chief executive officer Andreas Vgenopoulos, the minister said he did not allude to any particular person.

Vgenopoulos is alleged to have approved huge unsecured  loans to a monastery in Greece, which used the money to invest in his Marfin Investment Group, which owns Olympic Airlines and Mafin Egnatia Bank in Greece.

Marfin Egnatia Group announced today that it has applied to the international mediation court demanding over one billion euros from Cyprus in compensation for the loss of its stock in the now defunct Cyprus Popular Bank.

Vgenopoulos said that he applied to the mediation court because of the failure of the Cyprus authorities to respond to his claims.

He claimed that the hearing in the mediation court will help reveal that the collapse of Cyprus Pupular Bank was caused by the actions and ommissions of agents of τhe Cypriot authorities


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