New round of political tension after the economy investigation verdict

New round of political tension after the economy investigation verdict


By Christos Meliopoulos – Nicosia

A new round of political tension is starting in Cyprus following the publication of the verdict of the inquiry over the causes of the economic crisis, in which all major political and financial officials were called to testify, including the ex and the current President of the Republic.

In short, the Investigative Committee for the Cypriot economy attributed the main part of the blame for the economic woes to ex-President Christofias. The Committee even went as far as including in its report the comment that “it is reasonable to say that both the President and the government functioned under the grid ‘It is I who rule, I do what I want’.”

As expected, Demetris Christofias issued a furious response condemning the Committee as a means used by the current government to criminalise the country’s political life. He maintained that the whole process was illegal, blaming the Committee for not allowing him to testify via a written statement.

The portion of wrongdoing attributed to President Anastasiades and his government is comparatively very small, restricted to insufficient preparation ahead of the Eurogroup meeting that sealed the fact of the Cypriot economy back in March.

The verdict is said to have been greeted with satisfaction by the current administration, as it proves right the argument that the austere economic policy followed is a result of the reckless way of handling things by Mr Christofias and his team.

The other side, however, is fuming. As Mr Christofias stated, the feeling is that the Committee is concealing the responsibilities of banks and the former Governor of the Central Bank.

The verdict was bound to be controversial and the reaction ireful. The truth, one would guess, is as always somewhere in the middle. There can be not one person bearing all the responsibility as there can be no denying of the fact that the person in charge has the biggest part of this responsibility.

Whatever the findings of the Committee, the Cypriot people would undoubtedly want to see all those on the wrong being punished. But the surrounding atmosphere leaves many of them with a concern that where they deserve a level-headed, political and eventually instructive process, they will regrettably be left again with a distortive approach of partisan politics.