Cyprus central bank governor resigns

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IOL bus mar10 Panicos Demetriades AP Cyprus Central Bank chief Panicos Demetriades has resigned just as the bailed-out country struggles to emerge from a deep recession.

Nicosia - Cypriot Central Bank governor Panicos Demetriades submitted his resignation on Monday, which was accepted by President Nicos Anastasiades, an official statement said.

The reason for his resignation was not immediately clear, but he has had testy relations with the centre-right government, and Anastasiades had said in September he was seeking his removal. Demetriades has been in his post for almost two years.

Demetriades represents Cyprus on the ECB governing council. The ECB had no immediate comment. A statement from Cyprus's presidency said Demetriades would work out his notice and step down on April 10. Sources earlier told Reuters that Demetriades submitted his resignation at 1400 GMT.


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