Greek Government - Widow Sue State Over Bond Losses Reuters - Greek Pensioner

ATHENS Fri Apr 6, 2012 12:07pm EDT

ATHENS (Reuters) - Two Greek bondholders, your well-to-do widow plus a male pensioner, sued this state on Friday with the income they've lost due to the fact belonging to the nation's multi-billion euro personal debt restructuring.

The 76-year-old widow affirms she has displaced regarding 200,000 euros ($261,300), roughly half her expenditure within Greek govt bonds, considered by simply many some sort of safe resource prior to the debt turmoil exploded, protected gentleman provides lost quite a few 4,000 euros, a new court docket public said.

The two plaintiffs demand the particular annulment of an cabinet decree which obligated private bill slots to replace their bonds with new ones, worth substantially less, indicating the actual judgement seemed to be unconstitutional as well as illegal, the actual official said.

"It's a great unprecedented case. It's legally really interesting nonetheless these types of bondholders' problem can also be pretty urgent," his or her law firm Alexandros Lykourezos shared with Reuters.

Lykourezos reported additional bondholders desired to subscribe to each plaintiffs since some people appealed into the court.

"The much more (plaintiffs), that better. We merely happened to be the particular first, we all popped your way," Lykourezos said.

Pensioners have been tricky struck by Greece's most severe economic turmoil since World War Two, hurting cuts connected with about 25 p'cent an average of within their old-age gains on the past two years.

A 77-year-old retired pharmacist, Dimitris Christoulas, opportunity themself while in the head within fundamental Athens on Wednesday soon after indicating of which monetary problems have pushed him within the edge. A suicide note stated he preferred to die rather then scavenge regarding food.

His suicide outside parliament happens to be symbolic on the hardships normal Greeks are generally suffering as a consequence of a new compilation of salary plus pension cuts and also duty soars enforced and keep belgium afloat along with connect with circumstances to acquire aid in the EU plus the IMF.

Greece changed out 177 billion euros well worth with bonds with regard to brand new models previous month, inflicting losses on bondholders averaging three sectors with their investment, while component to an agenda to slash its gargantuan debt plus remain the euro zone.

The lawsuit filed by this not one but two Greeks on Friday follows a instance regarding a lot more than a hundred holders connected with Greek bonds in Germany .

Lykourezos stated they expected the actual lawsuit could well be dealt out using quickly caused by it's severity, nonetheless the judicial process in Greece generally movements slowly, along with instances sometimes consuming years for a final ruling, some thing this offers already been belittled by means of overseas lenders. ($1 = 0.7655 euros)

(Reporting by way of Renee Maltezou and Angeliki Koutantou; Writing simply by Ingrid Melander; Editing by way of Tim Pearce in addition to Alison Williams )