Cypriot banks in politician loan scandal

A list of Cypriot politicians who reportedly had millions in loans to Cypriot banks forgiven is published in Greece

A list of companies and politicians that had loans written off by banks at the heart of Cyprus' bailout crisis has been published in Greece.

There is already anger on the island that loans with the Bank of Cyprus, Laiki Bank and Hellenic Bank often running into the hundreds of thousands – and, in one case, millions of euros – have allegedly been wiped out.

The list, reported in Friday's Ethnos newspaper and which has been handed to the Cypriot parliament's ethics committee, includes the names of politicians from Cyprus' biggest parties (excluding the socialist EDEK and the Greens).

Questions are being asked as to why banks at which – in the case of Bank of Cyprus and Laiki – deposits of above €100,000 face a levy of an estimated 40% apparently forgave the loans of politicians and other senior figures in the country's public adminstration.

According to information acquired by Enet.gr, the list was originally leaked by the Cypriot parliament to a member of the European Parliament, and subsequently to journalists in America, before arriving in Greek hands.

According to Ethnos newspaper, the following loans were written off:

Bank of Cyprus

– A hotel company (with links to the communist AKEL party): Entire €2.81m loan written off

– Labour union: From €554,000 loan, €193,000 forgiven

– Company: From €1.83m loan, €111,000 forgiven

– Well-known conservative Democratic Rally (DISY) MP: From €168,000 loan, €101,000 forgiven

– Company linked to DISY MP: From €61,000 loan, €11,000 forgiven

– Company belonging to the brother of a former minister with the centrist Democratic Party (DIKO): From €1.595m loan, €1.285m written off

– Former DISY MP: From €58,000 euro loan, €26,000 forgiven

– Former DISY MP: From €84,000 euro loan, €16,000 forgiven

– Former mayor of a large town: From €105,000 loan, €17,000 forgiven

– Company linked with the daughter-in-law of a DIKO MP: From €625,000 loan, €330,000 written off

– Company of person related to a member of board of directors of Bank of Cyprus: From €839,000 loan, €237,000 forgiven

– Company apparently linked to a former minister: From €708,000 loan, €399,000 written off

Laiki Bank

– Former AKEL MP: €39,000 loan written off

– Former DISY MP: €71,000 loan written off

– Former DISY MP: €54,000 loan written off

– Company 51% owned by Cypriot politician, appears to have had $5.8m of debt written off

– Former spouse of leading ministry official: €18,500 loan written off

– Company owned by ambassador: €14,000 euro loan written off

Hellenic Bank

– Company owned by a MP from a smaller party: From €1.65m loan, €543,000 written off

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