SUNDAY MAIL

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FRENCH MESSAGE

CHRISTMAS

INSIDE IN

The Franco-Cypriot school offers a genuine multi-cultural experience

Take some tips from UK’s bright lights to decorate your home

Pages 6-7

Page 25

TV and lifestyle supplements to see you through the week

www.cyprus-mail.com

December 16, 2012

€1.60

TALES FROM THE COFFEESHOP: OUR POOR TREATMENT BY EU PAGE 17 INSIDE Cyprus State appeals to SGOs for cash 3

Cyprus EOKA ‘traitors’ cleared but hurt remains 4

World Search for answers begins after US massacre 9

Reportage The super rich 0.1% running the world centre

Sport City back on track after stylish victory back

Bailout blame is put on president Former Central Bank Governor says Christofias made series of errors

F

ORMER CENTRAL Bank Governor Athanasios Orphanides accused President Demetris Christofias of multiple errors of judgement that brought Cyprus to its knees, culminating in the ultimate failure last spring to take the necessary measures that would have kept the troika at bay. Speaking to the Sunday Mail in a frank interview, Orphanides responded to a series of allegations and criticisms levelled against him by ruling AKEL and the president since he left office, accusing the latter of “resorting to lies” while painting a picture of a completely irresponsible government. The former governor accused the ruling party and Christofias of implementing “dangerous” economic policies which proved disastrous for the island, while failing to take the opportunities that existed to save the economy. The government’s biggest mistake was “its failure to evaluate the dangers that our economy was facing and take the necessary corrective measures”, he said. Orphanides insists that with the right decisions Cyprus could have avoided the memorandum, which will lead to a bailout agreement. The last chance was lost in May 2012 when the government rejected Finance Minister Vassos Shiarly’s “desperate efforts to implement the measures our president had promised the EU he would take”. Christofias famously mocked Shiarly in a live televised press conference at the time, saying ministry

mandarins do not make policy, he does. He pledged not to take any fiscal measures just to meet the country’s deficit target of 2.5 per cent, adding in half-jest that Shiarly’s forte was finance not politics. The president subsequently blocked Shiarly’s plans for spending cuts. “You know that our country is now paying for this irresponsibility, and very dearly. If he had taken measures to tackle the widening deficit, even as late as May this year, he could have maintained the backing of the European Central Bank (ECB) for funding through the banks and we could have avoided the memorandum,” said Orphanides. Instead, the ECB stopped accepting government bonds as security for the provision of liquidity as monetary policy transactions and Cyprus lost access to international markets in June 2012. “The president’s decision to reject the measures the finance minister had committed to was tantamount to inviting the troika for a bailout with tougher measures,” Orphanides said. The former governor also accused the president of costing the state billions by failing to raise certain demands when EU leaders gathered to agree on an 80 per cent Greek debt haircut. As a result of a series of alleged failures, omissions and errors, a “harsh and unfair” memorandum has come to Cyprus at a time of record unemployment that could have been avoided, claimed Orphanides.

FULL STORY PAGE 20

Members of the French anti-fur group The Coalition to Abolish the Fur Trade dressed as Santa Claus denounce the “horror and suffering that is hidden behind the glamour of fur” in Nice, south-eastern France (AFP)

Vodka saved elephants from freezing TWO elephants have been saved from the deadly Siberian cold by drinking vodka, Russian officials have said. They say the animals had to be taken out into the bitter cold after the wooden trailer they were travelling in caught fire in the Novosibirsk region. The elephants, aged 45

and 48, suffered frostbite to the tips of their ears amid temperatures of -40C, BBC News reported. But they were warmed up by two cases of vodka mixed with warm water, one official was quoted as saying. “They started roaring like if they were in the jungle! Perhaps, they were happy,”

the official told Russia’s Ria Novosti news agency. The animals continued their recovery in a heated garage of a local college where they were brought by a truck under police escort. The elephants belong to a Polish circus, which has been touring the region, reports say.


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