Breaking news

Energy Minister Endorses Party’s Continued Role In Government Amid Political Tumult

Strong Support for Government Coalition

In a recent interview with Alpha TV, Energy Minister and Vice President of the Democratic Party (DK) Michalis Damianous made his position unmistakably clear: the party must remain in the government and coalition. His remarks came during an interview with Nikos Neokleous, amidst an environment charged by political controversies.

Political Challenges and Emerging Allegations

Notably, the interview was conducted prior to the unfolding political upheaval surrounding a discredited video and allegations of undisclosed financial contributions from businessmen alleged to benefit either the government or the state. These developments have cast a shadow of uncertainty over the current administration’s handling of complex issues.

Responding to Criticism

When pressed about the recent critical statements made by DK President regarding the management of the electrical interconnection—criticism documented in recent reports—Damianous reaffirmed his stance. He asserted that, as long as the agreed governmental program is on track, the DK must maintain its role in the coalition, a position further supported by the administration’s strategy as detailed in official communications.

Collective Decision-Making and Party Discipline

When asked about the potential scenario in which the DK might oppose his view, Damianous stressed that any decision regarding government participation will be determined collectively by the party’s governing bodies. He emphasized his commitment to upholding these collective decisions, while personally advocating for the party’s continued inclusion in the coalition. His pledge is clear: should the party resolve to exit the government following the controversies, he will adhere to the collective mandate.

Reevaluating Cost Projections

During the interview, Damianous also called for updated financial analyses concerning the electrical interconnection project—a proposal previously contested by Nikolas Papadopoulos, who cited remarks from European Commissioner Jörgensen. According to Damianous, the economic parameters used in earlier cost estimates are outdated, highlighting the necessity for a revised review as the project progresses over the years.

The interview underscores the delicate balance between maintaining political alliances and addressing accountability in the midst of evolving fiscal and governance challenges.

SEC Drops Lawsuit Against Gemini: A Major Turning Point In Crypto Regulation

SEC Dismisses Legal Action Against Gemini

The Securities and Exchange Commission has formally withdrawn its lawsuit against Gemini, the prominent crypto exchange founded by twins Cameron and Tyler Winklevoss. The move follows a joint court filing in which both the regulator and Gemini sought dismissal of the case that centered on the collapse of the Gemini Earn investment product, a debacle that left investors without access to their funds for 18 months.

Settlement And Regulatory Reassessment

In a significant development, a 2024 settlement between New York and Gemini ensured that investors recovered one hundred percent of their crypto assets loaned through the Gemini Earn program. The legal reprieve comes on the heels of actions initiated by New York Attorney General Letitia James, who accused Gemini of defrauding investors.

Political Backdrop And Industry Implications

This dismissal reinforces a broader trend of regulatory leniency toward the crypto sector noted during the Trump administration, which saw the SEC dismiss, pause, or reduce penalties in more than 60 percent of its pending crypto lawsuits. Meanwhile, Gemini’s recent public offering filing underscores its ambitions to solidify its status as a major player in the evolving digital asset market.

Uol
Aretilaw firm
The Future Forbes Realty Global Properties
eCredo

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter