Tensions have escalated ahead of a highly anticipated plenary session in the Cyprus Parliament, where AKEL's proposal to tax banks will be debated. DISY and AKEL have already clashed publicly, setting the stage for a fiery discussion.

The controversy began with a statement from Savia Orphanidou, Vice President and MP of DISY, who announced that DISY would vote against AKEL’s proposal. Orphanidou argued that such a decision "would harm both borrowers and depositors." Meanwhile, AKEL’s Spokesperson, Giorgos Koukoumas, issued a statement calling today's session critical, asserting that it would reveal whether parties and MPs "serve society or cater to the banks."

Responding to Koukoumas, DISY’s Spokesperson, Onoufrios Koulas, criticized AKEL’s approach to the economy. Koulas stated, “When AKEL's simplistic and binary economic views were implemented during their governance, we saw the consequences—they destroyed society, the banks, and the state. Every tax imposed on a business affects its pricing, impacting borrowers and depositors. AKEL’s proposal would burden both groups indirectly.”

Koukoumas did not leave Koulas’s comments unanswered. In a follow-up statement, he accused DISY of being the banks’ “tireless golden boy.” Specifically, Koukoumas said, “It wasn’t necessary for DISY to issue a statement to confirm they will once again side with the banks. Everyone in this country knows DISY tirelessly serves the banks. Other political forces must now answer: Should the banks return even a small portion of their €2.5 billion in superprofits to society, or not? Are they with society or with the banks?”

Today's plenary session is expected to be a contentious one, with the proposal serving as a litmus test for political allegiances in the ongoing debate over bank taxation.