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Cyprus

Politicians flush with cars, cash and land; President worth €213,500 (Update 2)

President Anastasiades

THE declaration of assets of politicians and officials of the current administration, the President of the Republic and his Cabinet, as well as party leaders and members of parliament, reads like a premium property catalogue and listings in a sports car magazine.

The declarations, the second since the law was passed in 2016 following pressure from the Council of Europe, include real estate with some valuations at least two decades’ old, five- and six-digit bank deposits and flashy cars that have been declared with a depreciated value. The preference for most politicians is German-made cars, with a Maserati thrown in for good measure.

President Nicos Anastasiades is worth around €213,500, according to his asset statement, made public on Thursday along with those of other state officials. (Greek).

In his declaration, dated March 2018, the president said he has immovable property worth €66,000, €61,750 in the bank, a 2012 Audi A8 worth €85,000, and €790 in shares.

Compared with his previous statement two years ago, the president appeared richer by €34,607.

The bulk of the immovable property is located at his village, Pera Pedi, and was donated to him by his mother.

The president also owns two flats in Limassol acquired in 1983 and 1985 for €38,000 and €28,000. The flats were bought with bank loans, which have been repaid.

According to the statement, Anastasiades’ net annual revenues – salary, pensions, rents from the apartments – were €137,571.

Of the main party leaders, Averof appears to be the wealthiest with real estate ownership valued at around €8m. The Disy chief also declared a debt to various banks amounting to €1.2m. His revenues for 2018 were €148,850.

Neophytou said he owns a €10,000 car and had about €100,000 in the bank.  He also has three separate savings plans worth €80,636.

Other than being the most affluent of political leaders, his net worth has gone up since the last asset statement of two years ago.

In 2017, his real estate was worth €7.25m, his debts amounted to €1.39m, while his bank deposits came to a mere €854.

Diko chairman Nicolas Papadopoulos said he owned around €1.9m in real estate, including office space in Nicosia worth €449,000, a house, plus the land it was on, worth €958,000, and 50 per cent of another property in Ayios Andreas valued at €478,000.

In 2018 he made around €475,000 — €370,000 from the sale of real estate, €81,752 in his capacity as an MP and €24,000 from rent.

He has debts worth €366,088 and a 2011 Volkswagen worth €40,000.

Akel chief Andros Kyprianou appears to owe some €172,000 while his revenues in 2018 were €81,700. He also owns a car that is worth €5,000 and has a joint current account with his wife with a balance of €12,351.

Kyprianou’s statement was not clear in that it contained handwritten entries and bank statements.

Edek chairman Marinos Sizopoulos said he had ‘approximately’ €20,000 deposits with Hellenic Bank and a debt (personal loan) of €70,000. By comparison, in 2017 he had declared €10,000 in bank deposits, a debt of €150,000, and immovable property worth €42,000.

In his current filings, Sizopoulos merely writes that his other assets ‘remain the same’ as in his previous statement. Unlike the last declaration, he does not specifically identify these assets, which according to his 2017 submission were: a Maserati GT, a Mercedes SL350, and a Smart, altogether valued at €206,000 at the time.

Former MEP and head of the Solidarity party Eleni Theocharous declared immovable properties in the south and the north of the island transferred to her after her husband’s death.

She also possesses a gravesite at a ‘premium location’ at Engomi cemetery.

Theocharous is still flush with cash, her total bank deposits (in Cyprus and in Brussels) amounting to €239,271 – the same amount down to the last cent that she declared two years ago.

Likewise, her total debts were unchanged – €183,000 now, as in 2017.

Theocharous also owns two vehicles worth a combined €24,000.

She states that she does not participate in any businesses, nor does she possess any movable assets like securities, debentures, shares, insurance contracts or dividends.

In all, there was no standard method of filling the statements, some were typed, some handwritten, oftentimes resembling scribbles.

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