Vladimír Urbánek (Kurzy.cz)
Markets  |  April 02, 2013 19:14:52

Cypriot Finance Minister Sarris resigned, the country got time to 2018


Cypriot Minister of Finance Michael Sarris resigned from his position because some investigating events leading to the collapse of almost island country. The Cypriot government commission investigating among other Sarrisovo experience as head of the Board of Cyprus Popular Bank last year. Sarris also announced his resignation in connection with the completion of negotiations with representatives of the Cyprus Government Troika. Cyprus on the basis of negotiations gets two-year reprieve for compliance or implementation of any required action.

Sarris commented on measures to control capital flows, in the sense that the measures should be abolished "gradually" to avoid destabilization of the financial sector.

Sarris in his capacity as Minister of Labour will replace the existing Haris Georgiades.

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Kyperský ministr financí Sarris rezignoval, země dostala čas do roku 2018

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