Cyprus Mail
Business Cyprus

Economy inquiry rejects Christofias’ request to delay his testimony

FORMER President Demetris Christofias has reportedly asked the committee of inquiry investigating the causes of the country’s near financial collapse, to delay his testimony so that his associates, who are away on holiday, can help him prepare.

State broadcaster CyBC said on Sunday that Christofias’ request had been rejected by the panel who  are expecting him to appear as scheduled next week on Thursday.

CyBC sources said the inquiry cited tight timeframes and the need to deliver a report to the Cabinet by the end of September.  It said people close to Christofias said he was “bitter” about the committee’s response as well as by the fact his testimony would be sandwiched between Central Bank governor’s Panicos Demetriades today, and that of former Central Bank governor Athanasios Orphanides next week on Friday, immediately after Christofias’ own testimony.

President Nicos Anastasiades’ testimony which is expected to be the last the committee will hold, originally pencilled in on Monday, August 26 will in the end be held on August 27.

The three-member panel is looking into a series of events that preceded an international EU/IMF bailout this March, which was clinched at the eleventh hour, availing an all-out collapse of the country’s banking sector and economy. Most of the events in question took place during Christofias’ administration between February 2008 and February 2013.

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