A committee of inquiry looking into how Cyprus’ economy and banking sector nearly collapsed concludes public hearings on Tuesday with President Nicos Anastasiades being the last witness to stand before it.

The hearing of the three-member committee under a former judge of the Supreme Court is set to begin at 1030 local time (0730 GMT).

It is the second time that a Cypriot President is testifying before an investigation committee after the testimony of former President Demetris Christofias.

Last Thursday Christofias walked out of the public enquiry into Cyprus’ economic and financial crisis, because he was not allowed to read a 25-page statement.

Athanasios Orphanides, former Central Bank Governor appeared before the investigation committee on the economy last Friday.

The committee is due to submit its final report on 28 September.

After Christofias stepped down in February, his successor Nicos Anastasiades signed an unprecedented 23 billion euro bail-in/bailout package.

In return for a 10 billion-euro bailout ($13 billion), the troika of international lenders demanded the winding up of the island`s second largest bank Laiki and a haircut on deposits over 100,000 euros in its largest lender Bank of Cyprus.

The ongoing crisis has dried up funds. The Cypriot government seeks to reduce the 2014 state budget by 10% and not exceed 5.5 billion euro in order to bring deficit down to 500 million euro and ensure primary surplus by 2016, which will in effect help Cyprus return to the international markets.

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