Cyprus Mail

‘No proposal’ about naming names

Chairman of the House Ethics committee Demetris Syllouris has demanded a proposal regaridng the publishing of the lists from the two big parties, DYSI and AKEL

NO official proposal has been tabled before the House Ethics Committee concerning the publication of thousands of names of people and companies that transferred funds abroad before a controversial deposit seizure last year, its chairman said on Tuesday.

Last week, the committee decided to include the names of everyone who moved money out of Cypriot banks between June 2012 and March 15, 2013 — when the EU decided to seize people’s deposits to recapitalise banks — in the report of its probe into the causes of Cyprus’ economic meltdown.

However, following the reaction of banks, businesses and professionals, the island’s biggest parties, DISY and AKEL, came out against the publication of the list.

Speaking on state radio on Tuesday morning, committee chairman Demetris Syllouris said there was no proposal before the committee.

He also warned the two parties that they must come with an alternative proposal and not just a recommendation not to publish the list.

Regarding the reaction caused by the committee’s decision to publish the list, Syllouris suggested that some circles should have showed concern earlier.

The island’s chamber of commerce and industry, banks and accountants all warned that publication of the list would ultimately hurt the island’s economy.

“How concerned were they when Cyprus was accused of money laundering and was the only EU country investigated?” Syllouris said. “Are we completely innocent? Are there things they should have done on their own accord at the time?”

The list, totalling close to 11,000 names, also includes the names of those who received low-interest loans, as well as those who have had loans written off by banks.

The implication appeared to be that those who moved funds out shortly before the haircut on deposits may be suspect of having acted on inside information that was not available to the general public, and that anyone who secured favourable terms on their loan may be suspect of contributing to the collapse of the banking system.

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