This article talks about the 66 year old Cyprus Finance minister Michael Sarris who resigned after completing talks on the controversial bail out deal. Sarris was appointed the finance mister in February and was under fire for his handling of this bailout deal. He has now been replaced by the labor minister Haris Georgiades. Sarris was head of the country's largest bank Laiki , whose performance almost lead to the financial collapse of the country.
The president has ordered an investigation to find out what factors led to almost bankruptcy of the country and Sarris agreed that in order to facilitate the work it was a right decision to hand in his resignation which was accepted by the President .
http://www.bbc.co.uk/news/world-europe-22005240
The president has ordered an investigation to find out what factors led to almost bankruptcy of the country and Sarris agreed that in order to facilitate the work it was a right decision to hand in his resignation which was accepted by the President .
http://www.bbc.co.uk/news/world-europe-22005240
It seems that Sarris is having a bad time. However, one needs to realize that financial collapses are never the work of one man or one factor. Bad and lax policies are mostly responsible for financial collapses. In this case, the Government needed to show some steps being taken. Someone had to be martyred and it happened to be Sarris.
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