Monday September 1, 2014 Search
Weather | Athens
29o C
23o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Under-fire Anastasiades promises to investigate Cypriot bank meltdown

Faced with mounting public anger over the EU-IMF bailout deal which he struck, President Nicos Anastasiades is launching a criminal probe into how Cyprus banks were brought to their knees.

His cabinet was to have met on Wednesday to appoint an investigator or commission to determine any criminal, moral or administrative responsibility, or uncover cases of incompetence, for the crisis.

But as the authorities struggle to have banks reopen on Thursday after a 12-day closure prompted by fears of a run on deposits, the government said it was postponing the meeting by a day.

The powerful opposition party Akel, meanwhile, has called for a demonstration on Wednesday night outside the presidential palace against the bailout deal sealed by Anastasiades, who was elected president only last month.

His Akel-backed predecessor, Demetris Christofias, had held out for months against the harsh terms of the bailout for the island's heavily Greece-exposed and bloated banking system with its massive Russian deposits.

The deal struck with the European Union and the International Monetary Fund on Saturday deals a major hit to investors and depositors in the island's biggest bank, the Bank of Cyprus, and effectively shuts down second-largest lender Laiki.

It has devastated the island's prized banking sector, a mainstay of the economy, and also inflicted huge losses in savings and jobs.

Under attack on the political front with charges of having folded to bullying by European countries led by Germany, which insisted that bank deposits take a major hit, Anastasiades has vowed to press ahead with a criminal investigation.

"I undertake in the next few days for the cabinet to appoint criminal investigators with a clear term of reference to find and attribute responsibility wherever it belongs, he said.

[AFP]

ekathimerini.com , Wednesday March 27, 2013 (12:27)  
Education minister calls for probe into predecessors reform plan
Anti-racism bill goes back to Parliament
Athens condemns Erdogan comments about Cyprus
Sanitary landfill for Ilia in Peloponnese given green light
Tourism targets rise ever higher
The latest data have allowed the Hellenic Association of Tourism Enterprises (SETE) to raise its target for tourism arrivals and revenues this year higher still. During a meeting with main o...
Horse race betting hurdle removed for OPAP
The new tender for the concession of the right to organize and operate wagering on horse races in Greece for the next 20 years will include a number of changes in its terms, despite assuranc...
Inside Business
SOCCER
Fulham striker Mitroglou set to re-join Olympiakos
Greek champions Olympiakos Piraeus are set to re-sign Kostas Mitroglou on loan from English second tier club Fulham after the striker arrived in Athens for talks on Sunday. An Olympiakos spo...
SOCCER
Tough draw for Greek sides in Europa League group stage
Following Thursday nights high, when all three Greek teams competing in the Europa League made it into the group stage of the competition, a harsh reality struck Friday as they found out wh...
Inside Sports
ANALYSIS
EUs three big problems all linked
The outgoing president of the European Council, Herman Van Rompuy, said at the weekend that his successor, Donald Tusk, currently Polands prime minister, faces three big challenges: the sta...
COMMENTARY
A great president
I fully understand the countrys need for political stability, a necessity which makes the election of a president by the current Parliament absolutely imperative. At the same time, however,...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Tourism targets rise ever higher
2. Horse race betting hurdle removed for OPAP
3. Revised GDP data confirm that Greek growth is near
4. Measures to reduce unemployment
5. Peachy export data despite Russian embargo
6. Stress tests begin for lenders
more news
Today
This Week
1. Excavation work at Amphipolis reveals section of marble mosaic floor
2. A great president
3. Erdogan visits Turkish-occupied Cyprus
4. Greek economy shrinks at slowest pace since late 2008
5. Dont feed the zombies
6. Greek officials meet to fine tune strategy for Paris talks with troika
Today
This Week
1. Attack on gay couple in Athens leaves one man needing surgery
2. The battle against progress
3. Thessaloniki mayor Boutaris sworn in wearing yellow star amid Golden Dawn protests
4. Strong undersea quake occurs off island of Milos, felt in Athens
5. Greek quest for debt relief faces hurdles in Paris
6. Hardouvelis, ECB executive discuss bank program, stress tests
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.