Cyprus Finance Minister Sarris resigns – Harris Georgiades new FinMin

Posted by keeptalkinggreece in Economy

Cyprus financial minister Michalis Sarris submitted his resignation short after noon on Tuesday. President Nicos Anastasiades accepted Sarris’ resignation, government spokesman confirmed.
Already in the morning rumors had been claiming that a mini cabinet reshuffle was due in Cyprus, aiming mainly to replace the finance minister.
Short after 3 p.m. Sarris had confirmed his resignation. He told reporters he decided to step down to ease the investigation ordered earlier Tuesday.
The resignation of the finance minister comes as prosecutor investigate those responsible for the collapse of the banking sector that pushed Cyprus in the arms of international lenders of EU, IMF and ECB.
Michalis Sarris has faced strong criticism for his handling of the Cyprus’s negotiations with its international creditors.

Sarris had headed the country’s troubled Laiki Bank last year in a bid to save it from collapse.
Rumors had claimed about Sarris resignation, while he was in Moscow last week to strike a deal with the Russians for a loan so that the bankrupt country could make a better deal with the Troika. Sarris survived in office for a couple more days.
Last week, the Archbishop of influential Cyprus Church had asked all economic leaders to resign.
Greek state broadcaster NET reported that Labor Minister Harris Georgiardes will replace Sarris.
UPDATE: Skai TV reported at 4 pm “labor minister Harris Georgiades will take an oath on Wednesday morning.”
PS Name at least one Greek politician who resigned for what-ever reason after May 2010 when the country sought its first Troika bailout.