Cyprus’s President-Elect Appoints Sarris as Finance Minister

Cypriot president-elect Nicos Anastasiades appointed Michael Sarris as finance minister and European Parliament lawmaker Ioannis Kasoulides as foreign minister.

Nobel economics laureate Christopher Pissarides will head the nation’s economic policy council, Anastasiades said late yesterday, in comments posted as a video on ANT1 TV’s website.

Anastasiades, who won the presidential vote on Feb. 24 and is backed by German Chancellor Angela Merkel, has to revive talks with European partners on aid that could equal the size of its 18 billion-euro ($24 billion) economy, to rescue banks and finance government over the next three years.

“Priority was given to issues relating to the economy and managing the crisis,” Anastasiades said, adding that the other cabinet members will be appointed in the coming days. Sarris, who as finance minister in 2008 supervised Cyprus’s adoption of the euro, has the experience needed to tackle the island’s economic problems, he said.

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