Cypriot finance minister Michalis Sarris has quit after concluding the country's €10 billion bailout package with the EU and IMF.
Sarris, who was swiftly replaced on Tuesday (2 April) by Labour minister Haris Georgiadis, had been chairman of the Cyprus Popular Bank (Laiki), which will be wound down as part of the bailout deal.
Depositors with Laiki, the country's second-largest lender, are set to be among the biggest losers from the bailout terms, facing haircuts of up to 60 perc...
Back our independent journalism by becoming a supporting member
Already a member? Login hereBenjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.
Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.