Limassol-born entrepreneur Theo Paphitis is absolutely certain Cyprus will overcome its economic challenges but wants people not politicians to run the cash-strapped country.
And the high profile UK-based businessman — whose empire spans retail, property, finance and consumer goods — has plans to expand to Cyprus but can’t reveal them yet.
“I believe in the island, I believe in the future of this island, I was disappointed with some things here, I’m not part of the system but I believe the people will eventually change things,” Paphitis told The Cyprus Daily in an interview.
“I am sure, one hundred per cent, we will come out of this, it is going to be painful and it is going to be longer than what people think. And the people need to take control, I’m tired of watching bad management by those appointed by politicians,” he added.
He said that his plans are long-term, not short-term and wondered why politicians were allowed to run now-ailing Cyprus Airways and key utilities CyTA (Cyprus Telecommunications Authority) and the Electricity Authority.
“They (politicians) shouldn’t be anywhere near it. But every time there is an election they put their friends on (boards). Why? Βelieve you me it is cancer, it’s a one-way to death,” he said.
“I know a lot of people who leave Cyprus and become incredibly successful outside Cyprus, applying all the rules that exist in European countries without the need for favours, without the need for cronyism.”
“So, all this has got to stop and until they stop we need a strategy to recover. And we have so much natural resources – not just in the new found natural gas which is an opportunity,” he added.
He argued that with so many ingenious people in Cyprus they should demand transparency, honesty and take action when necessary.
Paphitis believes that, as sad as this is, a crisis gives Cypriots an opportunity to expand their horizons.
“And I hate to say it but I actually believe it, sometimes out of these painful lessons people are forced to make decisions that actually improve them. We are not all Spartans but there is a lot of people that go to different levels when they need to.”
“Yes, it’s very tough for some of the families, it’s really sad. But once you accept the situation then you move on. Because there is nothing else to do, we don’t have a magic wand,” he added.
Cyprus Weekly
