| The Government confirms its commitment to satisfy the societyʼs sense of justice and will determine those responsible for this unprecedented economic tragedy that Cyprus is experiencing, Government Spokesman, Mr Christos Stylianides, said today.
Speaking to the Media, at the Presidential Palace, Mr Stylianides stated that “the day after the hard decisions we were forced to take is as we expected: very difficult. We have to manage the multiple problems that have emerged.
Teams of technocrats at the Central Bank and at the Ministry of Finance are working intensively to give the best possible solutions aiming at the speedy normalization of the situation. And we hope that happens and must happen by Thursday when the banks reopen.
On the political level, the President of the Republic deliberated today with his associates and other advisors with regard to setting up a crisis management team. This team will comprise of Ministers and experts and it will also be assisted by the House of Representatives.”
The Government Spokesman also said that crisis management teams will be set up at every Ministry with the recruitment of experts and academics so that each Ministry will tackle this difficult task separately, especially during the first days.
In addition, Mr Stylianides said that the President of the Republic, following his statement yesterday, had exploratory meetings this morning for the formation of an investigative committee that will seek possible criminal, civil and political responsibilities for the great economic tragedy that hit Cyprus.
He added that a team of experts from different Ministries as well as experts from the private sector and abroad, who offer their assistance free of charge, are working out scenarios with regard to safeguarding the Provident Funds, based on the Presidentʼs announcement yesterday in his televised statement.
Mr Stylianides added that “the President of the Republic will begin tomorrow a series of meetings with regard to investment issues and the implementation of delayed development projects.” He also added that the President will also convene a meeting tomorrow relating to energy and the reduction of the cost for electricity.
Referring to the Eurogroupʼ s decision on Cyprus, the Government Spokesman explained that “based on that decision, the procedure concerning the Bank of Cyprus is totally different from the procedure that concerns the Popular Bank. For the Popular Bank the decision refers to a good and a bad bank while for the Bank of Cyprus it refers to resolution and internal recapitalization through the conversion of the deposit cuts into bonds. This is a very big difference and this is the political decision based on the conclusions of the Eurogroup”.
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