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Wednesday, April 10, 2013
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Central Bank hands over list of 6,000
Nelson’s letters up for auction
Names of firms and persons who transferred money out between March 1st and 15th By George Psyllides
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HE Central Bank of Cyprus (CBC) yesterday handed lawmakers a list of 6,000 companies and individuals who withdrew money from Cyprus up to 15 days before a controversial Eurogroup decision to force losses on depositors as a condition for a €10 billion bailout. However, the chairman of the House Ethics Committee, which was due to look into a list detailing transfers of more than €100,000 from the two major banks - Bank of Cyprus (BoC) and Laiki - said that the list fell short of what he had requested. “It was with great disappointment and anger that, when we opened the envelope, we realised it contained data for only 15 days even though we had asked for a year,” MP Demetris Syllouris told reporters. “This kind of behaviour is unacceptable.” The amounts transferred were in the region of tens of millions, Syllouris said. In a letter to Syllouris, then Central Bank (former) deputy governor Spyros
Stavrinakis said he was only attaching a list of individuals and companies who transferred money out of Cyprus between March 1 and 15 this year. “We believe your request would lead to a huge volume of information, which would possibly not help the aim of your committee,” Stavrinakis said. This included foreign companies that transfer large sums of money each day, as well as Cypriots who bought property, he said. Syllouris said the CBC governor’s behaviour was unacceptable and that he would summon Panicos Demetriades to appear before the committee and explain why he refused to hand over all the data. Syllouris said the list would not be given to MPs or parties because it was incomplete. And it would not be made public before the reasons for the withdrawals were determined. Cypriot banks were shut down for nearly two weeks to prevent a run on deposits by panicked savers, after a March 15 bailout deal Cyprus struck with the European
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Chairman of the House Ethics Committee, Demetris Syllouris, received the list yesterday (Christos Theodorides)
A PAIR of letters written by Lord Horatio Nelson are to go under the hammer later this year. The letters, one of which was written in Nelson’s left hand after he lost his right arm at the Battle of Santa Cruz de Tenerife, will be sold by Hansons Auctioneers in June. They are expected to sell for between £7,000 and £10,000 each. The first letter, dated May 7, 1793, coincides with a young Nelson’s rise to power after years of working as a midshipman under his uncle’s supervision. In 1793, revolutionary France had declared war on Great Britain, and so began Horatio Nelson’s rise to naval success. Nelson had been on half pay in England for five years but was suddenly given command of the Agamemnon gunship. The first letter documents Nelson’s response to a shipmate attempting to leave his rank. Nelson writes: “I am sorry to say (he) cannot have my leave of absence to go to London. He came on board the ship from the Sandwich by his own free will and consent therefore why he should now be so uncomfortable as he appears to be I cannot account.” The second letter, dated October 21, 1804, is a much more scrawled piece written in his left hand. Nelson had his right arm amputated in 1797 following an injury at the Battle of Santa Cruz de Tenerife. The letter, written in the year before his death at the Battle of Trafalgar, praises Major James Weir of the Royal Marines. Nelson writes: “You merit everything which a grateful country could bestow upon your services. I shall be soon in England and if my testimony of your services can be useful it shall be very much at your service.” Nelson was shot and killed during the Battle of Trafalgar in 1805. Charles Hanson, manager of Hansons Auctioneers, said: “We expect that these letters written by a great hand will stir up international interest. “The rarity, prestige and British pride that the pair of these letters epitomise is something that should inspire collectors worldwide.” The letters will go under the hammer at Hansons summer fine arts auction at the Etwall auction house on June 29.