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Cyprus President accepted the resignation of the head of the Central Bank of the Republic

Cyprus President accepted the resignation of the head of the Central Bank of the Republic

Tags: Cyprus, Economy, Central Bank, Anastasiadis, Retirement, Banking

President of the Republic of Cyprus Nikos Anastasiadis accepted the resignation of the head of the Central Bank of the country Panicos Demetriades, according to a government press release.

The document notes that the president thanked Dimitriadis "for his contribution to the efforts in the last year to save the country from bankruptcy and stabilizing the financial sector," ITAR-TASS.

Dimitriadis takes place the current Auditor General of the Republic Hristalla Georgadzhi. Told channel "Sigma", citing government sources.

According to the channel, her appointment to this position - a matter of time. Under the contract, Dimitriadis should perform their functions within a month after submitting the resignation, that is, until April 10. The reasons for this step of the CB Chairman of the republic has not commented.

Dimitriadis was appointed head of the Central Bank in May 2012 previous year President Demetris Christofias. After coming to power of right-wing government in early March Anastasiadis 2013, he was criticized heavily by the authorities of the republic for the shortcomings and deficiencies in the management of the banking crisis in Cyprus and the slow restructuring of the industry after the March decisions of the Eurogroup "haircut" of uninsured deposits.

The President has personally declared his willingness to take legal measures to Demetriades suspension from his duties as not to deal with them. However, such statements Cypriot authorities towards the head of the Central Bank of Cyprus invariably caused a backlash leadership of the European Central Bank (ECB) and the European Commission, which sees this as an attempt on the independence of the financial regulator.

It is reported that a letter directly to the CB Chairman of Cyprus, which is also a member of the ECB Governing Council, was handed to the Minister of Finance Haris Georgiadis in Brussels, what is now the Eurogroup meeting.

After that, the ECB spokesman issued a statement saying that the regulator "took note of the resignation of Demetriades, who was the manager of the Central Bank of Cyprus in a very difficult period and was instrumental in implementing the program of financial stabilization."

"We look forward to a fruitful collaboration with his successor," - he said.

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