Central Bank Governor Panicos Demetriades has resigned, according to a government announcement. He will be replaced by current Auditor-general Chrystalla Georgadjis.
Mr. Demetriades resigned because of family and professional reasons and because of the existing sentiment, said President Anastasiades. The former governor will return to being an economics professor. The president said he has put past disagreements behind him, and the important thing is responsibility. Meanwhile, the attorney-general issued a statement saying that the decision to drop possible charges against Mr. Demetriades was based on purely legal reasons.
The full text of the government's statement on the high-profile resignation is below: