11 March 2014 08:29

NICOSIA – Central Bank governor Panicos Demetriades has resigned and the president had accepted his resignation, an official announcement said on Monday.
Finance Minister Haris Georgiades is understood to be briefing the Eurogroup now.
According to his contract a monthʼs 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", the announcement said.
Demetriadesʼ letter of resignation was handed today (Monday), in Brussels, to the Minister of Finance Harris Georgiades, in the presence of a European Central Bank representative.
The President of the Republic thanked 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.
No reason was given as to why Demetriades, who has had strained relations with the president, had stepped down.


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