Cyprus Finance Minister Sarris Quits After Brokering Rescue
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Cypriot Finance Minister Michael Sarris quit amid a probe into the island nation’s economic crisis, leaving the government eight days after helping it clinch an international bailout to stave off financial collapse.
Sarris told reporters in Nicosia today he was resigning because a government committee had been set up to investigate the country’s woes, including his time as chairman of Cyprus Popular Bank Pcl last year. His replacement is Labor Minister Haris Georgiades, who will be sworn in at 9:30 a.m. tomorrow, according to a statement from the president’s office.