Cyprus Names Central Bank Chief Who Called for German Euro Exit

Cyprus named Panicos Demetriades as its central bank governor, an economist who called for Germany to ditch the euro.

Demetriades will succeed Athanasios Orphanides as head of the Central Bank of Cyprus on May 3, government spokesman Stefanos Stefanou told reporters in Nicosia today. Because Cyprus is part of the 17-nation euro area, Demetriades will join the European Central Bank’s Governing Council for his five-year term and help set interest rates for the region.