Christofias Rejects Blame For Cypriot Crisis

NICOSIA, Cyprus ? Former Cypriot President Demetris Christofias, who decided not to run for re-election after his hopes for reunifying the island were dashed and the economy fell apart on his watch, has disputed the findings of a panel that he is mainly to blame for the financial crisis. Christofias, the leader then of the Communist party, repeatedly rejected ideas that could have helped head off the crisis, the panel said, charging that he pursued 'reckless' economic policies, ignored warnings over spending and worsened problems by delaying talks on an international bailout.Christofias earlier argued the inquiry was 'illegal' and the report 'fraught with untruths and slander' that he said was designed to cover up the fault of bankers, whose bad loans to Greek businesses that failed, and big holdings in devalued Greek bonds brought the economy to the edge of ruin.

READ THE ORIGINAL POST AT www.thenationalherald.com