22 April 2014 12:02

Police are expected to widen their probe into the causes of the economic crisis after revelations in parliament of preferential loans and millions written off by the banks.
Investigators will now target the dodgy deals made by the banks to politicians and business figures as many believe it was a lack of supervisory control and due diligence that triggered a near banking collapse last year.
It is understood Attorney General Costas Klerides has given the police task force instructions to widen their remit to encompass the loans scandal and huge banker bonuses.
Critics argue that casino banking, providing loans without security or writing them off as a favour are the reasons why Cyprus went into economic meltdown -- needing EU rescue aid to survive.
Police will also look at how Bank of Cyprus and the now defunct Laiki Bank operated in those 'dark days' prior to the bailout travesty.
There is also a possibility the AG will widen the net to include illegal funding of political parties.
 
 
 


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