cypriot central bank governor resigns
Last Updated : GMT 06:38:45
Arab Today, arab today
Arab Today, arab today

Cypriot central bank governor resigns

Arab Today, arab today

Arab Today, arab today Cypriot central bank governor resigns

Nicosia - XINHUA

   Cyprus' Central Bank (CBC) Governor Panicos Demetriades resigned his post, an official announcement said on Monday. "The governor of the Central Bank of Cyprus Mr Panicos Demetriades submitted his resignation to the President of the Republic Mr Nicos Anastasiades and it was accepted," said the statement issued by the Presidential Palace. No official reasons for the resignation were given, but reports said he had a strained relationship with the government since Anastasiades became president since March, 2013. Central Bank sources said that in his letter of resignation, Demetriades said he had difficulties in working with the CBC Board of Directors and also mentioned personal and family reasons. The government had repeatedly blamed Demetriades for mishandling issues related to the resolution of Cypriot banks which was made a condition for a 10-billion-euro (13.8 billion U.S. dollars) bailout accorded to Cyprus by the Eurogroup and the International Monetary Fund in late March, 2013. The statement said Demetriades handed his resignation to Cypriot minister of finance in Brussels, in the presence of a representative of the European Central Bank (ECB). Demetriades represents Cyprus on the ECB governing council. There was not immediately a comment on the resignation by the ECB which had repeatedly cautioned the Cypriot government on its moves to remove Demetriades. President Anastasiades had said in September last year that he wanted to remove Demetriades from his post, in which he had been for about two years, after being appointed by the previous left wing government of the eastern Mediterranean island. Anastasiades had repeatedly criticized Demetriades for delaying the process for the exit of Cypriot banks out of resolution status, but his statement said he thanked the Central Bank governor for his contribution in the efforts to rescue the economy from default and the stabilization of the banking sector. Cyprus had originally applied for a bailout in mid-2012 after being shut out of international markets for over a year, but the left-wing government at the time stalled negotiations with international lenders until the end of its term in February last year. Under the terms of the bailout memorandum, Cyprus had to wind down its second largest bank and seize almost one-half of uninsured deposits to recapitalize the main lender, Bank of Cyprus. Restrictions on bank transactions, including transfers abroad, are still in force. The outgoing Central Bank governor was blamed for contributing towards raising the recapitalization amount needed by the banking system. Demetriades will stay at his post until April 10 since he was required to give a month's notice for resigning, to oversee any pending issues and also brief his successor.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

cypriot central bank governor resigns cypriot central bank governor resigns

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

cypriot central bank governor resigns cypriot central bank governor resigns

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Prince's vision spurs new Cornwall village

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Israel ready to cooperate with Saudi

GMT 06:31 2017 Friday ,17 November

Israel ready to cooperate with Saudi
Arab Today, arab today Airbnb raided by Japan

GMT 01:55 2017 Saturday ,18 November

Airbnb raided by Japan
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Baidu speeds up AI progress

GMT 11:46 2017 Friday ,17 November

Baidu speeds up AI progress
Arab Today, arab today Hanan Metawe denies apology for “Major Treason”

GMT 12:22 2017 Thursday ,16 November

Hanan Metawe denies apology for “Major Treason”
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 06:13 2017 Friday ,17 November

Pope denounces healthcare inequality

GMT 05:18 2017 Thursday ,16 November

Boeing announces $27bn from flydubai

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday