Co-op investigators sworn in


By Stelios Orphanides

The three-member committee tasked with investigating the failure of the cooperative banking sector was sworn in, the Cyprus New Agency (CNA) reported on Monday.

Attorney-general Costas Clerides, who handpicked the members of the committee, asked its members to carry out a complete, documented and objective investigation which will lead to the issue of a report with conclusions that will analyse and explain what happened at the Co-op, which will help avoid similar phenomena in the future, CNA reported.

The members of the body are former Supreme Court judge Georgios Arestis, economist and former banker Georgios Charalambous and Georgios Georgiou, also a former banker.


About Author

Stelios Orphanides is a journalist at To contact Stelios Orphanides: [email protected]

  • Frustrated

    A classic case of bankers, aka gamekeepers, being appointed to oversee and report on the antics of fellow bankers aka poachers.

    The outcome of their deliberations will result in absolutely no criminal charges being brought. In any case, the money’s gone.

    • Evergreen


  • John Henry

    Hand picked by the AG. Well that says it all given his record for putting shysters away. Now, if you need a domestic employee deported without trial, the AG’s your man. The AG; no small job is too big for him.

  • Bob Ellis

    The three stooges. This should be hilarious. Their collective conclusion will be an unavoidable unforseeable minor mishap brought on by foreigners and the international markets. Case closed.

    • Troika did it. They were jealous of our gas.

      • Bob Ellis

        We are certainly full of gas….

  • Gui Jun An

    The longer these audaciously burlesque theatricals continue, the more ridiculous they become.

  • Neroli

    I commented on these 3 last week! We need ‘outsiders’ to investigate the Coop ‘bank’ these are not ex Bankers in the real world but of the failed banking sector of Cyprus. Georgios Charalambous is ex Central Bank and ex Bank Of Cy – nothing to write home about! And the other one Georgios Georgios !! More economists that have failed Cyprus and the ‘banks’ what were they doing when people were helping themselves (along with the Pres of Bank of Cyprus) to loans’ and I put loans in inverted commas as loans are to be paid back – it is money BORROWED

  • Barry White

    Which part of only foreigners should be on an investigative panel for there to be any chance of a result did the government not understand?

    • SuzieQ

      All of it?

    • Cydee

      They understood alright but, as usual, they chose to ignore and look after their own interests….

      • Terryw45

        ‘Foreign experts’ may uncover things that are best left ‘undiscovered’!