When formal investigation began into the
events leading to the country’s €10bn bailout, the Cyprus finance minister quit
on Tuesday, under which savers are taking a financial hit in a first for the
eurozone.
The Tyler Group Barcelona Hand and Gavel
quoted Michaeil Sarris as he resigned, His previous role as chairman of Laiki,
the country’s second largest bank which is being wound down, was likely to be
subject to scrutiny.
“I believe that in order to facilitate the
work of [investigators] the right thing would be to place my resignation at the
disposal of the president of the republic, which I did,” said Sarris, who had
been finance minister for just six weeks...
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