Cyprus Mail
Business Cyprus

Cabinet enrages AKEL with CBC appointment

THE CABINET yesterday appointed two executive members to the board of the Central Bank (CBC), prompting a fierce reaction from main opposition AKEL.
The government handed executive powers to board member Stelios Kiliaris and senior CBC director Giorgos Syrihas.
It was the latter’s appointment, which enraged AKEL.
“AKEL considers the act unacceptable,” party spokesman Giorgos Loukaides said in a statement.
AKEL associates Syrihas with former CBC governor Athanasios Orphanides whom the party holds responsible for the island’s economic woes.
Syrihas had been sidelined after former president Demetris Christofias appointed current governor Panicos Demetriades in May 2012.
The communist party said Syrihas was effectively acting as a deputy governor and his appointment was a “brutal provocation towards the Cypriot people who is suffering today by the consequences of the banks’ actions and the omissions of the regulating authorities.”
The appointment aimed at controlling the CBC and not an effort to improve the role of the regulator.
“On the contrary, it constitutes a reward for those who bear very serious responsibility for the condition of the banking system,” Loukaides said.

Related Posts

Scam warnings issued by tax department and postal service

Staff Reporter

Nearly 500 traffic violations in 12 hours

Staff Reporter

Cyprus repatriates 15 DRC citizens

Staff Reporter

One-off heating grant for mountain residents

Staff Reporter

Coronavirus: Premature to talk about end of pandemic says Karayiannis

Gina Agapiou

Batch of bottled water recalled

Antigoni Pitta