AKEL replies to DISY, restoring the truth
Statement by Stephanos Stefanou, AKEL C.C. Spokesperson
AKEL C.C. Press Office, 2nd May 2017, Nicosia
Since people will naturally be thinking that the current government and ruling forces – even if they have been governing the country for more than four years – will be blaming the previous government, and the previous government will be blaming the current government, let third parties – and in this case the European Commission – have their say on the economic crisis in Cyprus.
The European Commission says: “The problems Cyprus faces have accumulated over many years. At their heart is an oversized banking sector…. Due to the lack of adequate supervision, the two largest banks were allowed to be exposed to accumulated dangers. It was the problems in these banks that caused the problems to public finances and the economic recession in Cyprus and not the reverse “. (17th April, 2013).
The banks led Cyprus to the crisis and the Memorandum. At the same time as ruling DISY President Mr. Averof Neophytou was publicly declaring that “we have the best bankers in the world”. At the same time as Averof Neophytou and DIKO President Nicolas Papadopoulos supported by every means the then Governor of the Central Bank Mr. Orphanides. At the same time as the then opposition rejected the measures proposed by the government and when it simultaneously reduced the government’s revenues.
One of the principal issues at stake in the 2013 election campaign was the haircut on bank deposits. Everyone back then said that this can’t be accepted, because the economy would be destroyed.
The then presidential candidate N. Anastasiades made the public pledge that he is against the haircut. He made this pledge during the election campaign and after the election too, declaring he would persuade his “European friends” not to insist on the haircut.
Anastasiades proposed and accepted the haircut on bank deposits. He sold out the Cypriot banks in Greece for next to nothing, and the economy was destroyed.
We say this in order to restore the truth.
