Tagscentral bank governor

AG and CBC boss to appear before MPs

15/05/13
THE ATTORNEY-General and the Central Bank Governor are expected to appear before Parliament’s ethics committee next week to discuss how the country’s banking system came close to collapse. Head of the ethics committee Demetris Syllouris said he would encourage members of the committee to submit written questions to avoid repetitions. The MPs want to look into how, as part of a bailout, the country’s second biggest bank has been forced to wind-down with the biggest, Bank of Cyprus, undergoing radical restructuring. Syllouris previously said the committee would look at whether the Central Bank Governor Panicos Demetriades supplied sufficient and/or accurate information to parliament. ... 8 comments

‘Haircut exemptions only lead to bigger cuts for others’

By George Psyllides 09/04/13
EXEMPTING additional groups from a haircut on Bank of Cyprus (BoC) deposits could mean higher losses for other depositors, Central Bank of Cyprus (CBC) Governor Panicos Demetriades warned yesterday.Uninsured deposits in BoC – over €100,000 – currently face a €37.5 per cent cut although an additional 22.5 per cent, which have been frozen, could also suffer the same fate.The raid on deposits in the island’s biggest lender was decided by the Eurogroup together with the resolution of the second-biggest, Laiki.The government has decided to exempt various entities from the scheme, such as municipalities, charities, schools, and insurance companies.Various groups have also demanded their provident funds be exempted... 8 comments

President and CBC chief receive death threats

By Stefanos Evripidou 06/04/13
 POLICE ARE investigating death threats against President Nicos Anastasiades and Central Bank of Cyprus (CBC) Governor Panicos Demetriades and their families over the raid on deposits in the island’s two biggest banks. The threats were made in a typewritten letter addressed to the two men but sent by post to local daily Politis in Nicosia and signed by the ‘Deposit Rescue Group: To the Death’.  The paper’s assistant editor Manolis Kalantzis said he received the letter on Thursday morning and immediately notified police who sent CID investigators to the paper’s offices in the old town. ... 15 comments

House puts off vote on sacking of CB boss

By Elias Hazou 29/03/13
THE HOUSE last night decided to postpone a vote on a motion calling on the President to sack the governor of the Central Bank, with MPs asking for more time to ensure such a move was legally airtight.The motion was tabled by Greens deputy Giorgos Perdikis, but 49 MPs voted to postpone discussion to a later date.Initially it was designed to ask for the resignation of Central Bank chief Panicos Demetriades; it was then amended calling on the President to initiate procedures for the termination of the governor’s services.However, during a parliamentary debate before the plenum, the Attorney-general warned MPs of the legal intricacies, one of which could be that the European Central Bank might have something to say about it... 9 comments
RSS - central bank governor