Cypriot Bailout | South’s Written Off Bank Loans

Cypriot Bailout | South’s Written Off Bank Loans

Here are some of the sordid details from the Greek Press revealing bank loans which were written off. According to Ethnos newspaper, the following loans were written off:

Bank of Cyprus

– A hotel company (with links to the communist AKEL party): Entire €2.81m loan written off

– Labour union: From €554,000 loan, €193,000 forgiven

– Company: From €1.83m loan, €111,000 forgiven

– Well-known conservative Democratic Rally (DISY) MP: From €168,000 loan, €101,000 forgiven

– Company linked to DISY MP: From €61,000 loan, €11,000 forgiven

– Company belonging to the brother of a former minister with the centrist Democratic Party (DIKO): From €1.595m loan, €1.285m written off

– Former DISY MP: From €58,000 euro loan, €26,000 forgiven

– Former DISY MP: From €84,000 euro loan, €16,000 forgiven

– Former mayor of a large town: From €105,000 loan, €17,000 forgiven

– Company linked with the daughter-in-law of a DIKO MP: From €625,000 loan, €330,000 written off

– Company of person related to a member of board of directors of Bank of Cyprus: From €839,000 loan, €237,000 forgiven

– Company apparently linked to a former minister: From €708,000 loan, €399,000 written off

Laiki Bank

– Former AKEL MP: €39,000 loan written off

– Former DISY MP: €71,000 loan written off

– Former DISY MP: €54,000 loan written off

– Company 51% owned by Cypriot politician, appears to have had $5.8m of debt written off

– Former spouse of leading ministry official: €18,500 loan written off

– Company owned by ambassador: €14,000 euro loan written off

Hellenic Bank

– Company owned by a MP from a smaller party: From €1.65m loan, €543,000 written off

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