CYPRUS: CBC Governor contract saga continues

 * Georghadji admits to making her own alterations *

Central Bank Governor Chrystalla Georghadji admitted during her testimony at the House Watchdog Committee that she changed the terms of her employment contract, ending weeks of speculation and allegations that resulted in most political parties demanding her resignation.
But the pressure was partly set back last week when her daughter quit the family law firm where her employ had raised eyebrows as it represented former Laiki strongman Andreas Vgenopoulos and centralbanker Georghadji may have had a say in bank administration issues.
The bone of contention over the contract lied in the fact that Georghadji had removed clauses that prevented direct family members from being employed in sectors which could result in conflict of interest, but also that the pay scale had been increased from her predecessors’ wages. She said that she had vetted the changes with the Attorney General’s office and that her predecessor earned 1700 euros a month more than what was in her contract.
On the other hand, Auditor General Odysseas Michaelides found that Georghadji was earning 10,000 euros a year more than Paniccos Demetriades, and that he would investigate the matter more to resolve the confusion, while Accountant General Rea Georghiou was asked to produce a full statement of the Governor’s earnings to date.
The Governor told MPs that she had briefed Nicos Anastasiades with a memo, despite the President’s claims of the opposite last month. However, she clarified that the contact person with the Presidential Palace had been media consultant Makarios Droussiotis.
The Director of the President’s office, Panayiotis Antoniou said that initially Georghadji was presented with the former Governor’s contract where only the names had been changed. He subsequently went on an overseas trip and upon his return presented the terms of employ to President Anastasiades. As the President was too busy with other matters, Antoniou said that during his absence Makarios Droussiotis would coordinate the changes to the contract.
Meanwhile, Attorney General Costas Clerides said that the provisions for conflict of interest as presented to Chrystalla Georghadji were already included in the conditions of employ at the central Bank, but added that as the current contract stands, there is no issue of conflict.