Cyprus Finance Minister Michalis Sarris has decided to resign after completing talks on the controversial IMF-EU bailout deal
Michalis Sarris will be replaced by Labour Minister Haris Georgiades, reports in the local media suggest.
Cyprus Finance Minister Michalis Sarris has decided to resign after completing talks on the controversial IMF-EU bailout deal
The 10 billion-euro ($13 billion) deal – agreed by the EU and IMF – originally envisaged a levy on all Cypriot bank depositors, triggering public anger.
Under the revised deal, Bank of Cyprus depositors with more than 100,000 euros could now lose up to 60% of their savings.
On Tuesday, Cyprus’ government said that President Nicos Anastasiades had accepted the resignation of Michalis Sarris, who had been under fire for his handling of the bailout deal.
Nicos Anastasiades earlier ordered an investigation into what led Cyprus to the brink of bankruptcy before it was forced to accept tough bailout conditions.
The inquiry will be carried out by a three-judge panel.
At least 158 people have died in Spain's worst flooding disaster in generations. On October…
Google has been fined two undecillion (a two followed by 36 zeroes) roubles by a…
Embarking on a home remodel is an exciting journey, promising enhanced comfort, increased property value,…
The US presidential candidates continued to campaign across key swing states on October 20. Footage…
Elon Musk has said he will give away $1 million a day to a registered…
India and Canada have decided to expel their top envoys along with other diplomats as…
