Former President of the Republic Demetris Christofias has dismissed allegations that his government had given its consent for a haircut on Cypriot bank deposits.

According to a press release from the former President’s bureau, no discussion on a haircut on bank deposits ever took place during the former government’s consultations with the Troika. It is added that the former President never discussed or “accepted such a disastrous scenario” for Cyprus.

“The draft Memorandum of Understanding (MoU) which was initially agreed between the Christofias government and the Troika did not include not even a word on haircut on bank deposits”, it is stressed.

Moreover, the press release notes that “clearly, alleged reports on an agreement with Schaeuble (German Finance Minister) have nothing to do with reality. They constitute a big lie”