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In a fiery new round of revelations, Paphos Mayor Phedon Phedonos has raised the alarm over what he says is rampant drug trafficking in Cyprus’ schools and an emerging academic scandal he calls the new “Golden Degrees.”
Speaking on the radio show Diaspora News, Phedonos didn’t mince words. “There is a serious problem of drug trafficking and drug sales in high schools and secondary schools,” he said, warning that “based on police estimates, over 30 tons of drugs are consumed per year.”
What exactly are these ‘Golden Degrees’? Who’s issuing them? The mayor didn’t name names, yet. But his remarks have already lit a fire under both the education and political sectors.
That figure, if accurate, paints a grim picture. “We’re talking about tens of millions of euros in turnover and profit for drug dealers,” Phedonos said, describing a drug economy that functions both in retail and wholesale. “Cyprus isn’t just a consumer. We’re a hub for retail, wholesale, imports, and re-exports.”
He didn’t stop there.
“How can drugs be sold in schools and nobody knows?”
The mayor called for more than just awareness. “You need political will and operational capability. Otherwise, we’re just pretending to be shocked,” he said, implying that the authorities may not be doing enough to stop the flow of narcotics within educational institutions.
His comments come amid growing concern from parents, educators, and communities that school safety is at risk and that young people are increasingly vulnerable to drug networks operating right under everyone’s nose.
From golden passports to golden degrees
In another explosive claim, Phedonos warned of a new kind of scandal brewing, what he dubbed the rise of “Golden Degrees,” a reference to allegedly questionable academic qualifications.
“These so-called ‘golden diplomas’ are starting to take the place of the golden passports,” he said, suggesting that certain institutions may be handing out degrees to unqualified individuals, possibly in exchange for money, influence, or political favors.
The comment draws a sharp parallel to Cyprus’ now-defunct golden passport scheme, which faced widespread international criticism and was ultimately scrapped following a damning investigation.
What exactly are these ‘Golden Degrees’? Who’s issuing them? The mayor didn’t name names...yet. But his remarks have already lit a fire under both the education and political sectors, with calls for immediate investigation.
CySEC digs into allegations linking Cyprus forex firms to drug cartels
Meanwhile, the Cyprus Securities and Exchange Commission (CySEC) says it’s taking the Paphos Mayor’s recent explosive claim seriously, that some forex companies in Cyprus may be linked to drug cartels in Latin America. But before launching any deeper investigation, CySEC says it’s doing its homework first: collecting all the available data and working with other authorities at home and abroad.
In a written statement, a CySEC spokesperson said the agency is in contact with both local and international regulators and watchdogs, including big names like the European Securities and Markets Authority (ESMA), the EU’s banking authority (EBA), the Financial Action Task Force (FATF), and MoneyVal, which is the Council of Europe’s anti-money laundering body.
“Our top priority is protecting investors and making sure Cyprus’s financial sector remains credible and transparent,” the spokesperson stressed.
More on this story as it develops.
