Cyprus finance minister Michalis Sarris quits


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Financial Times
Breaking news
Tuesday April 02 2013

Breaking News
 
Cyprus finance minister Michalis Sarris quits
The Cypriot finance minister resigned on Tuesday after wrapping up talks on a €10bn bailout deal with international lenders.
Michalis Sarris, a former World Bank official, held the post for less than five weeks. He was expected to be replaced by Haris Georgiades, the labour minister.
Cyprus is set to receive the first tranche of bailout funding next month to ease problems with restructuring a stricken banking sector, which includes a haircut on deposits of more than €100,000 at the two largest banks and the imposition of emergency controls on capital movement.
http://link.ft.com/r/3JFELL/ULCREB/TP5EB2/NJD5TS/IE8N4E/SN/h?a1=2013&a2=4&a3=2
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