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Cyprus

Bondholders’ group throw their weight behind Diko

Fivos Mavrovouniotis (left)

Chairman of the bank bondholders’ association Fivos Mavrovouniotis has officially withdrawn his candidacy for the country’s presidency and will support Diko chairman Nicolas Papadopoulos instead.

The decision was made on Wednesday evening during a general assembly where the great majority of members voted in favour.

Mavrovouniotis said later that the main reason was the Diko candidate’s proposal, its viability and the possibility of election.

“Since the president ignored us completely, the decision eventually was for Nicolas Papadopoulos,” he said.

With the association’s votes, Papadopoulos can hope to enter the runoff, Mavrovouniotis said.

“Because if we had not given him our votes our result could have played a significant role in him not going through to the runoff. This is one more reason we withdrew.”

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