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Cyprus President Anastasiades threatens to resign and let people decide

Cypriot president Nicos Anastasiades threatens to resign over IMF proposals to rescue plan and let people decide, Cypriot media reported on Sunday evening short before the start of the Eurogroup meeting. Anastasiades threat came after the insistent pressure of the International Monetary Fund that the Bank of Cyprus should absorb the Popular bank. That would mean BOC would have to come up for the 9 billion euro the Popular received by the ELA fund of the European Central Bank.

Anastasiades threatened to break up the negotiations, return to Cyprus, resign and call elections. He also reportedly stopped the absorption process of Cypriot bank branches in Greece by Piraeus Bank.

“I can’t accept that, what is left for me to do is to return to Cyprus and resign,” Anastasiades allegedly said.

The meeting with the heads of EU, ECB, Eurogroup and EFSF has been interrupted.

The Eurogroup meeting, originally scheduled for 7 p.m. has been postponed for 9 p.m. The finance ministers of Eurogroup are supposed to bless the Cyprus-Troika agreement.

With such grave disagreements it looks as if the night will be very tough and very, very long…

UPDATE: shortly after the news was spread, it was …dismissed or better say “corrected”. After a phone conversation between Anastasiades and Cypriot Parliament Speaker Omirou, Cypriot media reported “Anastasiades did not threaten Christine Lagarde with his resignation, but he asked if her insistence and the insistence of European partners aim to force him to resign.” (sigmalive via RealNews)

PS Phew!



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  1. Deja vu all over again! 😉 It’s like watching the rerun of the Little Georgi Papandreou saga that was brought to us in late 2011…

    • keeptalkinggreece

      he never threaten anything, did he?

      • No, he just stated to hold a referendum and was ousted after that by his own people.
        History does repeat itself but never in exactly the same way. 🙂

  2. Here’s the final solution. or as it is commonly known as, the “EndLösing”

    One key element of the deposit tax, demanded by the IMF, is that it not require a parliamentary vote


    The EU ministers for Finance agreed to this. The take-over by the money junkies is now complete. So much for a “democratic Europe” which is now run by an unelected elite who do the bidding of an unelected money machine. It’s there, in black and white. They do not require a parliamentary vote, neither in Cyprus nor by the European Parliament…

    • keeptalkinggreece

      exaggarated. of course, not. it refers to bank restructuring.

      • No, it refers to society restructuring. That is what is happening in Europe, society is being restructured to become the playground of the financial elite, who cannot afford “democracy” and run the risk of being voted down. Hence a good while ago the Lisbon 1 and 2 debacles in Ireland, the “go back and vote correctly” orders for Greece, now the “no parliamentary vote” for Cyprus. Slowly but surely the democratic rights of the people to decide through the voting system whether they agree with (or not) or want (or not) something to happen are being removed. This is simply the final step. The elected representatives of the peoples of Europe, through their ministers of finance, have now removed the last democratic control, the last bit of accountability, the parliamentary vote on a decision that affects a country and its people. Even the pretence of democracy has now been dropped.
        This cannot be seen in the narrow, isolated context of a “bank restructuring”. It is a decision of systemic importance to democracy, and another, if not the final nail in its coffin.