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Government’s priority to restore the reputation of Cyprus abroad

The highest priority for the government is the effort to restore the reputation and credibility of Cyprus abroad, said President Christodoulidis, speaking at an event marking 125 years of the Bank of Cyprus.

He said Cyprus will become a destination for quality investments with added value and quality jobs will be created.

Furthermore, he called on the leadership of the Bank of Cyprus to assist in this effort, so that they can work together for the common goal.

At the same time, he called on the Bank not to forget that society paid a high price in 2013 to support banking organizations’.

In 2013, depositors in two Cypriot banks lost billions when savings were confiscated to protect the island’s banking system in a process known as a bail-in. The move was a condition sought by international creditors for a 10 billion euro bailout.

Famagusta Gazette