Responsibilities for the selling off of the Coop Bank must be assigned

Statement by AKEL C.C. Spokesperson Stefanos Stefanou on the Finding on the selling off of the Cyprus Cooperative Bank

AKEL C.C. Press Office, 2 March 2019, Nicosia

Those who bear responsibilities for the state of affairs the Cyprus Cooperative Bank ended up and for its sale, then these must be highlighted and assigned. The Cyprus Cooperative Bank was one of the greatest gains of our people. There must be catharsis and punishment be delivered for its sale. We expect from the Attorney General’s Office, who has received the Finding, to act appropriately when and provided that he studies it.

Of course, in our view, the political responsibilities of the government for the selling off of the Cyprus Co-operative Bank are self-evident. It had taken over the management of the Bank when the Co-operatives were put under state control in 2013 and it launched a new beginning. For five years, the government and ruling forces were declaring publicly that everything was going well until all of a sudden the sale of the Co-operative Bank with a state subsidy of billions to the Hellenic Bank arose.

Not only does the government refuse to take on its political responsibilities for the biggest financial crime committed in Cyprus, but it continues to commit criminal actions by selling off the assets of the Cyprus Cooperative Bank. Despite the fact that the President of the Republic had pledged in public that the property/assets of the Cooperative Bank would be given to the Local Government, the Cyprus Asset Management Company (KEDIPES) will put this property and assets up for sale.

The government is still not taking on any responsibilities whatsoever for anything.

The government continues to prove that it has become addicted to lies.