“One of the main criticisms directed against Demetriades has been how, under his watch, the now defunct Laiki Bank accumulated around €9.5 billion in emergency liquidity aid, only to buckle and fail when the ECB threatened to pull assistance. ‘How much independence can a central banker have when, from his statements, it appears he was serving other expediencies instead of his country’s interest,’ President Nicos Anastasiades said last year. For the state to get its €10 billion in bailout funds last March, the president said, it was told to privatise state companies, seize deposits, make painful cuts, and raise taxes.”
http://cyprus-mail.com/2014/03/10/cbc-governor-panicos-demetriades-resigns/
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
Where Immigration Policy Intersects with Government Surveillance
Don't just legalize marijuana, free prior offenders
Ageing population pushes welfare bill to crisis point
Settlement for officer who assaulted mentally handicapped teen in his home
Drones are cheaper and more powerful. In US, that's a problem, lawmakers told
Swiss banks agree to U.S. plan on tax evasion
'Civil war' divides families in row over Greek goldmine
Baltimore: Anatomy of an American City
Will bourbon help Kentucky swallow Obamacare?
Gold Fund's Collapse Rattles Poland
Sandy victims furious as FEMA troubles begin to build
A million engineers in India struggling to get placed in an extremely challenging market
China Devaluation Is Blow to Cash-Strapped Argentina’s Reserves
Oakland police chief filtered out Occupy e-mail
California death penalty ruled unconstitutional