The Anastasiades-DISY government planned the closure of the Coop Bank

Statement by AKEL C.C. Spokesperson Stefanos Stefanou

AKEL C.C. Press Office, 28 August 2018, Nicosia

Judging from the statements made so far in the inquiry Committee on the closure of the Cyprus Co-operative Bank it is confirmed that the political responsibilities of the Anastasiades-DISY Government for the tragic end of one of society’s greatest gains are enormous.

As the work of the inquiry progresses, it is becoming increasingly clear that the Anastasiades-DISY government planned the closure of the Coop Bank and with the “good part” of the institution proceeded to support a private bank. The Coop Bank could have been saved, but the government and ruling forces through their decisions, actions and omissions, created disastrous one-way paths to lead the Coop to close down and sell it off.

As in other cases, so in the case of the Coop Bank too, the Government and ruling DISY party have sacrificed public interest in order to serve powerful private interests by shifting onto the taxpayer’s backs approximately seven billion Euros.