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Europe Daily Bulletin No. 11041

19 March 2014
ECONOMY - FINANCE - BUSINESS / (ae) cyprus
Controversial golden departure package for Demetriades

Brussels, 18/03/2014 (Agence Europe) - On Cypriot public radio on Monday 17 March, Cypriot Finance Minister Harris Georgiades confirmed that the governor of the island's central bank, Panicos Demetriades, and the Cypriot government had agreed to a golden departure package for the governor's voluntary departure last week. According to the Cypriot press, Demetriades received two years' pay, €265,000, which was not stipulated in his employment contract. Georgiades said: “His resignation was...

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