Local newspaper Haravghi has published an article about the movement of millions of euros from Cyprus bank accounts to accounts outside Cyprus just days before the Eurogroups proposal on March 15 which eventually lead to the ‘haircut’ on deposit suffered by deposit holders in Cyprus. The article points the finger at the company Loutsios & sons, whose owners are related by marriage to President Anastasiades, which took place in the days immediately before the Eurogroup decision which resulted in the transfer of 21 million euros  to banks in England. The company responded by describing the article as a : “malicious and deliberate attempt to politicise perfectly legitimate economic activities, featuring the Company A. Loutsios & Sons Ltd.” The President said in a written statement that the article was an attempt to disorientate the people about those who are truely responsible for leading the country to bankruptcy.

Also a Greek newspaper made serious allegations against Cyprus commercial banks accusing them of writing off the debt of many public officials and their relatives. The list include relatives of members of banking institutions executive boards, politicians, former MPs and local government officials. Αccording to Greek daiy ‘Ethnos’ the loans are estimated to hundreds of thousands of euros, with one case allegedly referring to millions.


Leave a Reply