The investigations into possible criminal offenses in connection with the Cyprus` economic debacle are underway, Attorney General of the Republic Costas Clerides has said.
Asked whether the sale of Uniastrum would affect the investigations into the causes of the economic collapse, Clerides said that this development would be taken into account in the ongoing investigations.
He also said that the investigation into the purchase of Uniastrum and any possible offenses continues continues normally.
Clerides noted that some of the requests for judicial assistance from other countries have been accepted while a large number of them are pending. “However, the process continues,” he added.
Excluded from the international capital markets since May 2011, Cyprus agreed in March 2013 on a €10 billion bailout to cover its financing needs, and to avert the collapse of the banking sector severely hit by the haircut of the Greek sovereign debt and rising non-performing loans.
However the bailout featured an unprecedented haircut of banking deposits over €100,000 to recapitalise the island`s largest lender, Bank of Cyprus, while Cyprus Popular Bank entered a liquidation process. President Anastasiades after his election in February 2013 pledged that the economic collapse will be fully investigated.