Cyprus central bank governor resigns

PanARMENIAN.Net - Cyprus' central bank governor has resigned just as the bailed-out country struggles to emerge from a deep recession.

The Associated Press reports that according to a government statement Monday, President Nicos Anastasiades thanked Panicos Demetriades for helping to prevent the country's bankruptcy and stabilizing the troubled banking sector.

No reason for the decision was given but the two have often been at loggerheads.

Last year, Anastasiades launched a stinging attack against the central bank chief over his handling of the rescue deal with international creditors. Anastasiades also said he would begin proceedings against Demetriades — an appointee of the country's previous, communist-rooted president — to have him ousted for not doing his job properly.

Demetriades' will leave his post April 10.