14/02/2013 08:57
Cyprus’s assessment for money laundering will be transferred to the next government, as this has clearly stated that it does not accept Eurogroup’s proposals for the appointment of a private house.
The Finance Minister reiterated again today that Cyprus will not accept arrangements contravening the constitutional legitimacy.
Reiterating the objections of the Republic to the European partners, the Minister stressed that any acceptance of the procedures proposed by the President of the Eurogroup clash with the Cypriot Constitution and the international conventions and practices.
On Monday, the President of the Eurogroup said that it was agreed to appoint a foreign firm to evaluate the implementation of laws on money laundering, saying that the Cypriot government was given a week to agree with the terms of reference that will be given to the firm by the troika.
After the Eurogroup summit, no official announcement was issued.
The Cypriot government said yesterday that it has not accepted Eurogroup’s request.
"The arguments of the Republic were given in writing with the submission of two documents to the members of the Eurogroup, one of which is a thorough opinion of the Attorney General, Petros Clerides, overturning with legal arguments Eurogroup’s demand”, Mr. Shiarly noted today.
"I explained verbally the reasons why Cyprus could accept such a check by an international institution not a private firm. At the same time, I passed the positions of our country in writing, because verbal speech can sometimes be misinterpreted”, he told StockWatch.
Mr. Shiarly noted that a key criterion, which is also the shield of the arguments of the Cypriot side, is legitimacy.
"No decision of any European institution can overturn the provisions of the constitution of a member state”, Mr. Shiarly said.
He explained that any intervention of a private firm, whichever it is, in the institutional practices of a state is a serious breach. "Cyprus can not circumvent its constitution and will not allow such an action," the Minister stressed.
As for the next day, Mr. Shiarly said the Republic of Cyprus clarified its positions and now expects the reaction of the EU
Finally, he reiterated what Government Spokesman stressed yesterday that specific procedures against money laundering are implemented worldwide by designated committees and statutory bodies. The process via a private company is not provided by the EU.
The European partners of Cyprus have raised the crucial issue of money laundering without substantiating their positions, other than general references on the investment injected to Russia via Cyprus.
In September 2012, the IMF team arrived in Cyprus for two-day visit and identified gaps in the implementation of laws on money laundering, which the Cypriot government tried to cover with new a legislation passed in December.
The Finance Minister reiterated again today that Cyprus will not accept arrangements contravening the constitutional legitimacy.
Reiterating the objections of the Republic to the European partners, the Minister stressed that any acceptance of the procedures proposed by the President of the Eurogroup clash with the Cypriot Constitution and the international conventions and practices.
On Monday, the President of the Eurogroup said that it was agreed to appoint a foreign firm to evaluate the implementation of laws on money laundering, saying that the Cypriot government was given a week to agree with the terms of reference that will be given to the firm by the troika.
After the Eurogroup summit, no official announcement was issued.
The Cypriot government said yesterday that it has not accepted Eurogroup’s request.
"The arguments of the Republic were given in writing with the submission of two documents to the members of the Eurogroup, one of which is a thorough opinion of the Attorney General, Petros Clerides, overturning with legal arguments Eurogroup’s demand”, Mr. Shiarly noted today.
"I explained verbally the reasons why Cyprus could accept such a check by an international institution not a private firm. At the same time, I passed the positions of our country in writing, because verbal speech can sometimes be misinterpreted”, he told StockWatch.
Mr. Shiarly noted that a key criterion, which is also the shield of the arguments of the Cypriot side, is legitimacy.
"No decision of any European institution can overturn the provisions of the constitution of a member state”, Mr. Shiarly said.
He explained that any intervention of a private firm, whichever it is, in the institutional practices of a state is a serious breach. "Cyprus can not circumvent its constitution and will not allow such an action," the Minister stressed.
As for the next day, Mr. Shiarly said the Republic of Cyprus clarified its positions and now expects the reaction of the EU
Finally, he reiterated what Government Spokesman stressed yesterday that specific procedures against money laundering are implemented worldwide by designated committees and statutory bodies. The process via a private company is not provided by the EU.
The European partners of Cyprus have raised the crucial issue of money laundering without substantiating their positions, other than general references on the investment injected to Russia via Cyprus.
In September 2012, the IMF team arrived in Cyprus for two-day visit and identified gaps in the implementation of laws on money laundering, which the Cypriot government tried to cover with new a legislation passed in December.
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