Cyprus central bank governor resigns
The government of Cryprus has released an official statement confirming the resignation of its central bank governor Panicos Demetriades. Realtions between the central bank governor and the government have been poor for much of the past year.
President Nicos Anastasiades had in the past gone so far as to openly call for Demetriades' resignation. In October, Demetriades told the Financial Times his relationship with President Anastasiades was "not a suitable state of affairs."
The statement said:
According to Mr Demetriades’ contract a month’s notice is required, and for that reason his resignation will be effective as of April 10. During this period, Mr Demetriades will deal with the pending issues before him and will brief his successor. Mr Demetriades’ letter of resignation was handed today, in Brussels, to the Minister of Finance, Mr Harris Georgiades, in the presence of a European Central Bank representative.
The President of the Republic thanked Mr Demetriades for his contribution in the great effort that has been undertaken over the past year to rescue the country from bankruptcy and to stabilize the financial sector.