Cyprus Keeps Schtum on Pre-Haircut Bank Transfers



ETHICS-COMMCyprus will not yet be revealing the identities of individuals and companies that transferred money off the island in the days leading up to last year’s bail-in of bank depositors, the parliamentary House Ethics Committee declared Thursday.

The committee decided by majority vote to give the Central Bank governor more time to process the data. Committee chairman Demetris Syllouris rejected claims of a cover-up, saying in-depth investigations are continuing and a decision will be made in June about whether to release the names.

The committee voted unanimously in early April to publish around 11,000 names of those who transferred funds out of the cash-strapped Cypriot banks in the nine months prior to the haircut inflicted upon deposits above 100,000 euros last March.

The committee’s report will be discussed by the plenum on May 6.