Christodoulides publishes wealth statement (Updated)

By Andria Kades and Elias Hazou

President Nikos Christodoulides has listed almost €120,000 in bank deposits, along with €340,000 in property value, according to his declared wealth statement published on Thursday.

Three government ministers also released their wealth statements; Finance Minister Makis Keravnos, Energy Minister George Papanastasiou and Interior Minister Constantinos Ioannou.

The disclosure of the wealth statements comes just as the legislature is amending the relevant law.

The format of the statements has come in for a great deal of criticism – and ridicule – due to their lack of specificity.

One of the aspects which may change with the new law, is that the submission of wealth statements may occur every two years – instead of every three years currently.

Earlier this week, MPs got a glimpse of the electronic platform which will be used by them and government officials to file their wealth statements.

The platform will standardise the format and require more complete data.

Christodoulides’ form reveals he received a €79,000 lump sum after leaving his post at the foreign ministry last year, as well as €99,000 in his ING Belgium account, which has closed and the sum since transferred to Hellenic Bank.

Where property is concerned, the form requires two distinctions are made, one being the value of the item when it was purchased and the other one its current value.

Nonetheless, Christodoulides has specified only the value of his property in 2021, instead of its present-day value.

He has listed property in a 549 square metre piece of land he co-owns in Dali, amounting to €161,950, along with inherited land in Yeroskipou (his birthplace) in 1996 whose value in 2021 is listed at €148,700. The latter is listed at 602 square meters.

The president has also inherited a 2,509 square metre piece of land in Choulou in 2015, which is valued at €3,800. There was also one sixth of a piece of land in Choulou, with Christodoulides’ share amounting to 526 square meters at €850.

Additionally, Christodoulides inherited a €6,500 piece of land spanning 4,348 square metres.

In Anarita, Christodoulides inherited half a share of a piece of land listed as 2020 square metres valued at €18,200.

The president also declared a joint account with his wife at Hellenic Bank revealing €99,922 and another joint account with the Housing Finance Corporation amounting to €612 as of November 28, 2022.

Christodoulides also has a meagre €2.39 in his savings account as of March 2023 and €13,575 in a deposit account at Hellenic Bank. He also had €959 in a separate savings account.

The president listed a joint overdraft account with a €4,277 balance. He did not declare any shares.

Christodoulides has also two life insurances and housing loans with Hellenic Life Insurance Company valued at almost €60,000 and €96,000.

Moreover, he has a separate life insurance amounting to €11,000 and a life insurance with Universal Life at €50,000.

Finally, Christodoulides has two housing loans at Hellenic Bank amounting to €183,000 and €49,000 respectively, as of March this year. His credit card at Hellenic Bank is in €3 debit.

The president declared no vehicle in his name, and no shares in any company.

As for the members of the cabinet, who filed their wealth declarations along with the president, Finance Minister Makis Keravnos declared owning one-half of a villa in Paralimni acquired in 2011 for €274,000.

Keravnos additionally owns one-half of an apartment in Athens, bought in 2006 for €103,000. He also declared owning three Mercedes cars worth €1,000, €5,000 and €20,000, respectively.

His bank deposits (with Hellenic Bank) amount to €150,000.

Interior Minister Constantinos Ioannou owns plots of land in which he has a share, as well as an apartment in Berlin – acquired in 2021 – worth €350,000. He owns two cars – worth €35,000 and €13,000 – a boat worth €45,000, and a motorcycle worth €14,000.

Ioannou also declared an interest in eight corporations, while his total deposits – in accounts in three banks – come to €500,000. He has taken out a €370,000 loan with Hellenic Bank.

And Energy Minister George Papanastasiou declared owning residences in Lakatamia and Paralimni, an apartment in Limassol and in Lakatamia, and a plot of land in Evrychou. The minister owns a €30,000 Porsche.

Papanastasiou’s bank deposits amount to over €200,000, and he receives an annual pension for prior work of €21,500.