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The Capital Market is worried about the effects of American banks in Cyprus

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“There is some concern but I think that from the information we have at the moment it is unjustified”, said Giorgos Theocharidis

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The President of the Capital Market Commission Giorgos Theocharidis was reassuring about the concerns of depositors after the collapse of the American banks Silvergate Bank, Silicon Valley Bank and Signature Bank.

Speaking on the show « DISTRIBUTION OF NEWS” Mr. Theocharidis stated “there is some concern but I think that from the information we currently have it is unjustified. Unjustified because it is not based on real data but on the panic that can easily be created”.

When asked about the reasons why the investment services sector continues to show a steady rise despite the pandemic and the Ukrainian, the President of the European Capital Market explained that this is due to the correct supervisory framework determined by Europe, the liquidity in the market and the willingness of investors to invest.

Source: www.kathimerini.com.cy

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