Prosecutions connected with the collapse of the economy can be expected in the coming weeks, the attorney-general said on Thursday, after a meeting with President
"I really believe that the time for words has ended and the time for action must start," Costas Clerides told comment-seeking reporters.
Investigators are in the process of hiring foreign experts to help their efforts in identifying the causes of the island's economic collapse.
Nevertheless, Clerides said, some cases were almost ready "and we hope to have tangible results within the next weeks."
"Cases that are ready or almost ready now will be brought to court, independent of the time it would take to complete the entire investigation," the attorney-general said.
The criminal investigation will span the years 2006 to 2013, covering the transfer of capital from the now defunct
Authorities are also investigating Central Bank Governor
The investigation was launched in late October following media reports that Demetriades had agreed to pay A&M a 0.10 per cent fee on any amount needed to recapitalise the banks, including when cash was seized from depositors.
The deal was allegedly signed after the Eurogroup decided to seize depositors' cash to recapitalise banks.
Clerides said that has nothing to do with the investigation into the collapse of the economy conditions but it was being expedited to the extent permitted by conditions.
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