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Cyprus

House plenary to convene extraordinary debate on co-op collapse

The House plenary will hold an extraordinary meeting on Thursday, April 4, to debate the report of the investigative committee on the collapse of the Cyprus Cooperative Bank (CCB).

The Committee had been appointed in July 2018 and handed over its 800 pages long report to Attorney General Costas Clerides on 1 March.

President of the House of Representatives Demetris Syllouris has called an extraordinary meeting of the plenary on April 4 to debate the report. The transfer agreement regarding the acquisition of CCB assets and liabilities by the Hellenic Bank, which was concluded on December 14, 2018, was also placed before parliament on March 21, by Finance Minister Harris Georgiades.

The Committee’s findings were unanimous and covered two different periods between 1985 and 2013 and 2013 and 2018, the first period spanning 9 chapters and the second 28.

Until mid – December 2018, the Committee heard evidence from 75 witnesses and received 98 depositions, which took place in 40 public hearings. The minutes of the hearings came to 2,781 pages, while documents numbering 120,000 pages were submitted to the Committee in hard or electronic form.


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