Concerns over the resignation of the Central Bank Governor

 

Statement by Georgos Louciades, AKEL C.C Press Spokesperson 

AKEL C.C. Press Office, 11th March 2014, Nicosia

 

 

The circumstances surrounding the resignation of the Governor of the Central Bank of Cyprus deepen the worries and concerns which we as AKEL had long ago expressed, whilst a number of new questions are raised.

It is an undisputed fact that the Governor came under an unprecedented all-out attack, blackmail and threats from the Anastasiades government which had as its goal to force him to resign. This all-out attack was indeed waged to such a degree that it even led to the public intervention of the European Central Bank and the European Commi9ssion, in order to protect the independence of the institution of the Central Bank.

Evidently, the government and Mr. Anastasiades achieved their goal, recording a victory. However, it was not a defeat for Mr. Demetriades, who in any case agreed with the government’s key policies and actions. It is the institutions, democracy itself and Cypriot society that have suffered a defeat.

After this development, every citizen quite naturally wonders about the following:

If an independent institution that is protected by the Constitution, European institutions and the European institutional framework, is treated in such a way to what extent can ordinary citizens or other more vulnerable institutions be protected from the unparalleled authoritarianism of the Anastasiades government?

Furthermore, the former Governor of the Central Bank, Legal Service and especially the government are called upon to explain to the people whether all the talk about a deal and behind the scenes manoeuvring that preceded the resignation of Mr. Dimitriades are indeed true.

They are called upon to explain how all of a sudden, by a strange coincidence on the same day as the Governor’s resignation, the Legal Service issued a finding that there was no case against Mr. Demetriades. The government and ruling forces are called upon to explain whether the voluntary otherwise resignation, was accompanied by substantial compensations/rewards. However, Mr. Demetriades is also called upon to give an answer as to what exactly occurred and afterwards he changed the position he had expressed publicly that he would not resign, despite the intolerable pressures he came under.

In addition, the government and ruling forces are once again called upon give an answer as to their real motives with regards their attempt to seize full control of the Central Bank.

Is this linked or not to a possible attempted cover-up of all of those who took part in the bank robbery committed against our people and all those who having received inside information, subsequently withdrew their money out of Cyprus before the haircut on the bank  deposits?

Is the attempt to control the Central Bank linked or not with the on-going attempt to shift the burden of the bank robbery on ordinary citizens backs so that those who caused the black holes in the banking system will benefit?