In response to press reports about banks writing off debts of politicians, the Government reaffirms its position for the full investigation of all aspects of the crisis in the banking sector and its repercussions on the wider economy.
The Council of Ministers has foreseen to include in the terms of reference of the Investigation Committee a specific reference to debt write-offs. Specifically, it is mentioned that the Committee will investigate: “The facts and decisions that relate to the provision or writing-off or reduction of loans or writing-off of guarantees or provision of other facilitations by banks of the Republic, both in Cyprus and abroad, and particularly whether these were made according to the correct procedures, guarantees or securities, or according to the banker’s lending criteria, and whether there was adequate supervision on behalf of the Central Bank of Cyprus”.
The Council of Ministers has provided the three-member Investigation Committee with all necessary tools and to the extent possible, it will do everything to conclude the investigation as soon as possible.
The President of the Republic Mr Nicos Anastasiades is particularly sensitive regarding the issue of the investigation and has given strict instructions to the members of the Council of Ministers to facilitate the work of the Committee.
The Government will handle this issue with full transparency and will not hesitate to attribute responsibility, when this is substantiated, wherever it lies. |
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