The appointment of the Governor of the Central Bank

President Christodoulides whitewashes the banking crimes

8 April 2024, AKEL C.C. Price Office, Nicosia

Apparently, paying off electoral debts, Nikos Christodoulides decided to appoint to the crucial post of the Governor of the Central Bank Mr. Chr. Patsalides, who during the critical period of the banking crisis and scandals was at the helm of the Bank of Cyprus.

Mr. Chr.Patsalides’ background is not consistent with the credentials that should accompany the Governor of the Central Bank. One truly wonders what message does the President want to convey: is it that he is erasing the banking crimes which, I beg your pardon, the probe commissioned by the Parliamentary ad hoc committee’s report unanimously concluded?

In addition, we note that in a report prepared by Alvarez & Marsal on the purchase of Greek bonds by the Bank of Cyprus during the period of the banking crisis in Cyprus, it is stated that there was a massive deletion of data from Mr. Patsalides’ computer, while there was a specific order from the Central Bank not to delete anything.

How credible is another appointment of Nikos Christodoulides after all?