The former auditor general of Cyprus, Odysseas Michaelides, is set to announce his political future next month, with the possibility of founding a new party gaining traction.

Speaking to Politis Radio, Michaelides said that the idea of launching a political movement is becoming “increasingly likely” as May approaches.

Michaelides, who is also a visiting professor of economics at the European University of Cyprus, indicated that his final decision would be made by mid-May. 

“We will not leave the matter open-ended. In May, we will inform the public whether we are establishing a party or not,” he stated. 

“At this stage, founding a party is the most probable scenario, but even if that does not happen, we will still make some form of announcement.”

When asked whether there was enough time to form a party and prepare for the 2026 parliamentary elections, Michaelides expressed confidence. 

“There is certainly enough time,” he affirmed, hinting that a well-structured campaign could be put together in time for the elections.

Michaelides and his team are awaiting final public opinion surveys to assess whether citizens feel there is a genuine need for a new party. He believes that public trust in traditional political structures has eroded. 

“What we perceive from the public is that the clientelist political system has been discredited in the eyes of the people,” he said. 

“Our goal is not to establish another party that becomes part of the system but to create something entirely different.”

The former auditor general made it clear that he would either announce a political movement that remains as such or declare the creation of a fully-fledged party. If a party is formed, it will compete in the 2026 parliamentary elections, with Michaelides himself likely to run as a candidate. 

“If we create a party, I see no reason why I would not run,” he confirmed.

For now, no prominent political figures are expected to be part of the initial announcement. However, Michaelides acknowledged that he is in discussions with politicians and party officials, suggesting that their involvement may come at a later stage. 

“If we proceed with a party, we will need to form an electoral list by autumn. Our goal will be to include individuals with a clean reputation that aligns with our political vision.”

Michaelides was also questioned about his long-term political aspirations, particularly whether he sees the formation of a party as a step towards a presidential bid in 2028. While he did not confirm any such ambitions, he did not dismiss the possibility either. 

“If you want to contribute to society, you must enter the battle,” he said. 

“The key factor is whether our party will provide something that people genuinely need. If so, we will proceed, regardless of potential wear and tear.”

Michaelides’ imminent political decision, could significantly reshape the island’s political landscape. With the announcement expected within weeks, Cyprus awaits clarity on what could become a new political force challenging the traditional parties in the country.