23/11/2010 15:28
“The downgrading of the Cyprus economy by Standard and Poor’s, which was based on the size and the risks of the banking system, was unsuccessful”, Marfin Popular Bank CEO, Efthimios Bouloutas stated on Tuesday.
Speaking to Cypriot journalists in Athens, Mr. Bouloutas said that S&P do not deal with the banking system and, therefore, they cannot have a substantial opinion. “Do not forget Enron and Lehman Brothers, which despite the positive rating, they collapsed in a few days”, he noted.
Commenting on the lurking risks for the island’s economy emerging from its connection with the Greek, he expressed the estimate that this is not in danger.
At the same time, he emphasized that “although the problems are not small, the problems of Greece for Cyprus are manageable in all levels, the corporate and the banking”.
Invited to comment on the measures that the Cyprus government promotes in the banking sector, he expressed his opposition to any new taxes on banks.
“Taxes on assets or liabilities or things that we do not control and concern profitability are not acceptable”, he concluded.
Speaking to Cypriot journalists in Athens, Mr. Bouloutas said that S&P do not deal with the banking system and, therefore, they cannot have a substantial opinion. “Do not forget Enron and Lehman Brothers, which despite the positive rating, they collapsed in a few days”, he noted.
Commenting on the lurking risks for the island’s economy emerging from its connection with the Greek, he expressed the estimate that this is not in danger.
At the same time, he emphasized that “although the problems are not small, the problems of Greece for Cyprus are manageable in all levels, the corporate and the banking”.
Invited to comment on the measures that the Cyprus government promotes in the banking sector, he expressed his opposition to any new taxes on banks.
“Taxes on assets or liabilities or things that we do not control and concern profitability are not acceptable”, he concluded.
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