News Local President Anastasiades seeks to Georghadji's removal

President Anastasiades seeks to Georghadji's removal

President of the Republic Nicos Anastasiades will ask the Attorney General to examine the facts and proceed to the constitutional provisions for the removal of Central Bank Governor Chrystalla Georghadji.

Allegations made by a Member of the Central Bank of Cyprus` Board of Directors on Thursday before the House Ethics Committee have sent shock waves throughout Cypriot political circles and continue to reverberate.

It is the first time that the President of the Rebublic refers to the Supreme Judicial Council to cease Governor of the Central Bank. President Anastasiadis, after a conference call, informed the Chairman of the European Central Bank, Mario Draghi, about his intentions. According to governmental circles, Mr. Draghi declared that there is no question of his own involvement since all the conditions and procedures meet the general rules of the Republic of Cyprus.

Government Spokesman Nicos Christodoulides made the statement on Sunday evening after Georghadjis` meeting with the President earlier tonight and her statements to the press that she will continue exercising her duties as Governor of Central Bank of Cyprus. According to Mr. Christodoulides, President Anastasiades is led to this decision because he is strongly dissatisfied about the corruption of an institution like the Central Bank. The serious conflict of interest arises from Mrs. Georgadji’s revised contract and especially from the fact that her former spouse remains under Andreas Vgenopoulos’ law services. To be noted, Vgenopoulos requires the huge amount of 4.2 billion euros as compensation after Laiki’s collapse.

Georghadji: “I do not quit”

Chrystalla Georghadji stated: “I will continue to perform my duties from the Position of the Central Bank Governor, as independent and impartial as possible, without favoring any kind of discrimination». Furthermore, she added that the Resolution Authority has no serious objections to the assets’ transformation procedure to the former creditors of Laiki Bank, since the general laws of the state are not being trampled underfoot.

Academic Stavros Zenios, pointed out that the biggest problem is the conflict of interest at the Central Bank, which promotes several problems for the well function of the Council.
The leaders of all parliamentary parties, after yesterday’s debate with President Anastasiades, are urgently requesting the resignations of all members involved in this case, starting with Mrs. Georghadji.

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