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Panicos Demetriades

First Female Central Bank Governor in Cyprus

Chrystalla Georghadji, has been appointed head of the Cyprus Central Bank following the resignation of former governor Panicos Demetriades, who was appointed by Cyprus' previous communist administration. Georghadji who is currently Auditor General, will be Cyprus' first female Central Bank...

Cyprus Central Bank Governor Panicos Demetriades Resigns

Central Bank Governor Panicos Demetriades resigned on Monday after two turbulent years in office, which also saw the launch of an investigation into his dealings with a consultancy firm. An official statement said Demetriades’ resignation has been accepted by President...

Bad Loans Overwhelm Cypriot Banks

Cyprus' reeling banks, brought to the edge of ruin by bad loans and bad business decisions, now have to face a mountain of non-performing loans as people hit by austerity measures can't afford to pay what they owe, further...

Cypriot Bank Chief Says Money Won't Flee

While Cyprus is keeping a tight rein on depositors and limiting how much they can take out of the bank, apart from those who apparently have found a way around capital controls, the risk of a run on the...

Cyprus May Seek Financial Aid from EU

Cyprus could become the fourth country to seek financial help from its European neighbors as early as this month. The island nation is likely to need a bailout to recapitalize its banks, which have been rocked by neighboring Greece’s crisis,...

EU Bailout Cannot Be Excluded, Cyprus CB Governor Says

New Cyprus Central Bank Governor Panicos Demetriades did not exclude the possibility for Cyprus to seek entry to the European bailout mechanism (European Financial Stability Facility - EFSF), in a bid to support the recapitalization efforts by Cyprus Popular...

Orphanides Says Cyprus Economy at Critical Juncture

Cyprus must not waver from the path of austerity if its economy is to emerge with a clean bill of health from the vicious cycle in which it is trapped, the outgoing head of its central bank said on...

Cyprus President Appoints Panicos Demetriades as New Central Bank Head Amid Economic Turmoil

A British university's financial economics professor was appointed Cyprus' new Central Bank governor Saturday, as the eurozone member struggles to contain a stagnating economy and banking system roiling under heavy exposure to Greek debt. Government Spokesman Stefanos Stefanou said President...