NICOSIA - Central Bank Governor Panicos Demetriades has been asked by the government to make a public explanation about comments he has been quoted as making about his independence being under threat, Government Spokesman Christos Stylianides said.
According to international news agencies in an interview in Dublin where he attended a meeting of the Central Bankers of the Member States of the EU, Demetriades said that central bank independence is under attack by the government. Speaking to CyBC radio Stylianides hoped these statements had been misinterpreted. He added that the Government fully respects the autonomy of institutions. "There were some coordination problems and disagreements," said Stylianides, but adding that "this does not mean that the Government will stop respecting the autonomy and independence of the Central Bank."