Draghi revelations on haircut on bank deposits

 

Statement of Georgos Loucaides, AKEL C.C. Spokesperson

AKEL C.C. Press Office, 5th March 2015, Nicosia

 

The television station MEGA yesterday showed an older interview with the President of the European Central Bank Mario Draghi, who in a categorical way on 04/04/2013 stated that the horizontal haircut on all bank deposits “was not clever and was corrected immediately, the day after, with the decision of the Eurozone Finance Ministers through videoconferencing.”

It is true that Draghi’s statements on the one hand reconfirm what is already well known to everyone, namely that the horizontal haircut had been proposed by the Anastasiades government.

However, what does create a serious point of order for the government and ruling forces is Draghi’s position that the decision for a horizontal haircut on bank deposits was withdrawn the day after in a teleconference of the Finance Ministers, a fact that was hidden from the political leadership of Cyprus and the House of Representatives, as a result of which Parliament was called upon to take a position on a decision that according to Draghi had already been withdrawn.

We expect, even though two years have elapsed, that the government will tell the truth to the people of Cyprus, who is still suffering from the decisions taken in March 2013.