Georgiades hits back at being blamed for Coop collapse

first_imgHours after the release of the report which largely blamed him for the Co-op’s demise, Finance Minister Harris Georgiades hit back on Wednesday, saying political responsibility was one thing and acting responsibly another.Georgiades said he could not comment directly on a report that he had not yet seen, but he defended the government’s actions on the issue.“In the case of the Co-op bank we had been called on to manage a chronically toxic situation,” he told reporters. “Some people may have a different view. Some people may have wanted this situation maintained.”The minister said the administration had taken difficult but necessary decisions and their results were already visible.“The government’s decisions have secured confidence and stability, have bolstered the Cypriot economy through consecutive upgrades, (and they) have ensured growth prospects,” he said.Differing political views are understandable and respected but the government’s plans were clear, as is the distinction between political responsibility and acting responsibly.“I will respond when I get the chance to study the report,” he said. You May LikePopularEverythingColorado Mom Adopted Two Children, Months Later She Learned Who They Really ArePopularEverythingUndoLivestlyChip And Joanna’s $18M Mansion Is Perfect, But It’s The Backyard Everyone Is Talking AboutLivestlyUndoYahoo SearchYou’ve Never Seen Luxury Like This On A Cruise Ship. Search Luxury Mediterranean CruisesYahoo SearchUndo Pensioner dies after crash on Paphos-Polis roadUndoCruise passenger airlifted to Paphos hospitalUndoRemand for pair in alleged property fraud (Updated)Undoby Taboolaby Taboolalast_img read more