AKEL denounces Anastasiades-DISY Government’s machinations for the sell-out of Cooperatives to private investors
Statement by Stefanos Stefanou, AKEL C.C. Spokesperson
AKEL C.C. Press Office, 20th March 2018, Nicosia
The decision to put the Cyprus Co-operative Bank up for sale marks the conclusion of the Anastasiades-DISY Government’s machinations for the sell-out of Cooperatives to private investors.
Ultimately, the Government did what it evidently had aimed for from the very beginning, that is, the sell-out of Cooperatives. It wasn’t admitting it however, and the government hid its intentions behind various promises.
Initially, the Anastasiades-DISY government promised to return Cooperatives to their owners. It subsequently pledged to return the Cooperatives to citizens. It prepared a plan to list shares in the Stock Exchange, but it didn’t even keep this promise.
The Government, as the main shareholder of the Cyprus Co-operative Bank, bears the sole responsibility towards society for the decisions and actions that have been made and which lead to the sale of the Cyprus Co-operative Bank by loading the losses on to taxpayer’s shoulders.
