Recovering our credibility towards society and overseas, is the passport to Cyprus’ economic rebound, President of the Republic Nicos Anastasiades has said.

Speaking to reporters after testifying before the Commission of Inquiry into how Cyprus’ economy and banking sector nearly collapsed, President Anastasiades said it is imperative now more than ever to unite forces in the home front adding it is also a prerequisite to respond to our obligations as a state.

“By fulfilling our obligations, we will recover our credibility towards the society and overseas”, he added.

Referring to his testimony before the commission, President Anastasiades said he submitted a document which outlines the facts prior to the Presidential elections and after his election as President, noting he does not apportion any responsibilities nor does he make any criticism. “That is the work of the Commission, which I fully respect and trust”, he added.

The documents, given to the press, include a chronological order of the situation and include references to letters, documents and statements.

President Anastasiades said that he acknowledges the “great significance which is attached to the correct and prompt investigation of the facts and allocating responsibilities were necessary. Otherwise, he added, the society will turn its back towards us. It will completely dismiss us. He said society does not care about political party tactics or political arguments. “The society wants answers as to how this prosperous country found itself on the brink of default”, the President underlined.

Anastasiades said “we must look ahead”, adding that “great challenges lay ahead, we have started handling them and we are determined to face them”.

He also said that the situation is hard but there are prospects if we promptly take the right decisions. “And this is exactly what we are doing”, he concluded.

In late March this year, the Cypriot authorities and the Troika (European Commission, European Central Bank and the IMF) agreed on a €10 billion financial assistance package, which provided for a haircut on uninsured deposits at the BoCY and Laiki. Laiki is being wound down and merged with BoCY.

Capital controls have been imposed on the island’s banking sector following the agreement.

The Commission of Inquiry was appointed in March by the Cabinet to probe into possible civil, criminal or political liabilities concerning developments in Cyprus’ economy and banking sector. The Commission concluded on Tuesday its hearings and will submit its report to the cabinet on 28th September.

One Response to President Anastasiades calls for unity for Cyprus to recover its credibility

  1. Nikk says:

    Cyprus has so much to offer, but when will the Government understand that letting china have a option to buy
    Will help there economy, First they take the British ex- pats for granted and the Russians know they bend over backwards for the Chinese. They need to sort the problems out within, corruption is stil rife amongst certain body’s , look at the mess of the roads in and all around PAPHOS , tourism is being ripped of by all Cypriot business’s and they seem to forget its that for many areas which they rely on . Come on Cyprus sort it from within annoyed and angry lover of Cyprus

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