Cyprus Finance Minister Resigns

Tyler Durden's picture

As per rumors first reported in the overnight summary article, the Cypriot finance minister has joined the other rats dumping the sinking island:

  • CYPRUS FINANCE MINISTER SARRIS SAYS HE RESIGNS
  • SARRIS SAYS RESIGNS DUE TO ONGOING INVESTIGATION IN CYPRUS
  • SARRIS SAYS CYPRUS PRESIDENT ACCEPTED RESIGNATION

Investigation? Did he also funnel cash into London ahead of Confiscation Day? But fear not, all shall be well, the now ex-finmin promises:

  • SARRIS SAYS CAPITAL CONTROLS WILL BE EASED GRADUALLY

Surely, if this great news doesn't send the S&P to new all time highs, nothing will.

From Sigma Live:

His resignation, submitted by the Minister of Finance Michalis Sarris and agreed the President, confirmed by the Government Spokesman Christos Stylianides.

"I took over the Ministry of Finance to help the Cyprus agreement with the Troika on the memorandum, which was achieved," said Mr. Sarris in his statements.

The reason for his resignation, he said, is to facilitate the work of the Commission of Inquiry which was sworn in today.

"Because today begins the term of the research committee, which includes research and the timeframe in which I served as President of the People's Bank resign in order to facilitate the work of the Commission.

As the Government Spokesman, the Government is proceeding with a reshuffle concern the replacement of Michael Sarris.

According to information SigmaLive, President of the Republic, it is directed to replace Finance Minister Michalis Sarris, the current Minister of Labour, Haris Georgiades, which seems to replace Zeta Emilianidou, Director General of the Ministry of Commerce, Industry and Tourism.

There is, however, concern the Reformation to become wider with the participation of individuals from AKEL and EDEK which will stipulate a national unity government with a time horizon of three years.

Anastasiadis thanks to Sari and "regrets the resignation┬╗

Regret the resignation of Finance Minister Michalis Sarris, expressed in a written notice of the President Anastasiadis, while thanking Mr. Sarris' for valuable services during the difficult negotiations with the troika. "

Negotiations were completed today, with considerable success for these objectives, the President says, adding that "it is, however, something that particularly appreciate, but I want to exclude from the resignation by Mr. Sarris is the high political ethos and politics sensitivity demonstrated. "

The decision of Mr. Sarris submit his resignation for reasons of political touchiness, to facilitate the work of the Investigation Committee, is a cultural phenomenon in the life of the Cypriot political life, says President Anastasiadis.