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Anastasiades: Temporary capital restrictions, prosecutors to seek those responsible for the crisis

Cyprus president Nicos Anastasiades spoke to the nation on Sunday evening and in a televise address he tried to explain the 10-billion-euro bailout deal that will shut down the second large bank of the country and leave owners of more than 100,000 euro in bank deposits poorer at estimated 40 percent.

Anastasiades announced four important measures:

1) to impose capital control of temporary duration 2) to secure the assets of welfare funds  3) banks liquidity is secured 4) to assign criminal inspectors who will seek the responsible for the crisis.

“Capital controls will last only a few days and will be relaxed afterwards.”

The rest was the usual sentences, Greek remember very well from statements of current and former prime ministers when they had to announce the signature of a loan agreement with the Troika:

– Despite our bitterness & disappointment with some of our partners, don’t think we should think of leaving EU family.

– We gave a battle for the present and the future, for our children and our grandchildren.

– As of tomorrow we will launch the effort to rebuild the country.

-The hours were difficult, at some moments dramatic. Cyprus was just a breath away from economic collapse.

-The deal is painful but the best we could do.

At the end he said “I am sure we will find our feet again” – making many Greeks wondering what he meant…

Towards the end of his speech, music with short intervals of march features was displayed.

PS rumors that Anastasiades copy-pasted his speech from Greek sites do not confirm.

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