Cyprus Mail

Current and former president to appear before committee (updated)

By Poly Pantelides

PRESIDENT Nicos Anastasiades and former president Demetris Christofias will be called to testify at the committee of inquiry into the financial crisis, the inquiry announced on Wednesday.

Christofias is due to testify on August 22, with Anastasiades due to appear before the committee on August 26.

The inquiry has also called former and current Central Bank top brass to testify, including former central bank governor Christodoulos Christodoulou, expected to appear next week on Friday.

Financial authorities are investigating a transfer of some €1.0million in 2007 from a Greek ship owner’s account to that of a company that was headed at the time by Christodoulou’s daughter. Christodoulou has said there was “nothing wrong or illegal” with the transfer.

Present Central Bank governor Panicos Demetriades is due to testify on August 13, and his immediate predecessor Athanasios Orphanides on August 23.

Former Central Bank senior directors Spyros Stavrinakis and Costas Poullis are due to testify on August 6. Christofias, with Demetriades’ blessings, appointed Stavrinakis as deputy Central Bank governor soon before a change of government in February. The post had been vacant for some 50 years because it was reserved by the constitution for Turkish Cypriots.

With the new Anastasiades government, the appointment was rescinded.


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