Posts by tag: A minute with Kyriacos Andreou (Bboy Kyri)

Archives April 16, 2013 posted by

President responds to Draghi on Central Bank Governor

PRESIDENT NICOS Anastasiades has written a letter to European Central Bank (ECB) President Mario Draghi allegedly listing the shortcomings of Cyprus’ Central Bank Governor Panicos Demetriades, it was reported yesterday. 

In the initial letter, which was also sent to House President Yiannakis Omirou, Draghi reminded both men that a central bank governor could only be dismissed on grounds specified by EU law, adding that any dismissal would be subject to review by the EU’s Court of Justice. 

Speaking on Sunday, Anastasiades said he planned to inform Draghi about some incidents which he hoped would be taken to heart, hinting that had there been the proper supervision by European institutions, Cyprus wouldn’t be in the position it’s in now.  

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