Former Advisοr of the Central Bank of Cyprus: clan capitalism and incompetence of power structures is the main threat to the island

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According to the former advisor of the Central Bank, the Oligarchs in Cyprus sow seeds of a new crisis, and the government of the country obediently observes the situation.

The statement has been made in the light of the recent parliamentary elections in Turkish- occupied part of Cyprus, having revealed the weakest areas for the island: clan capitalism and corruption in political and economic fields. According to experts, the similar issues may also puzzle voters of the upcoming presidential elections in the Cyprus government-controlled part. Clan capitalism and the related incompetence of various authorities threaten the country with new crises.