ECONOMY

New Bank of Cyprus governor to be announced ‘when time is right’

Cypriot President Dimitris Christofias said on Tuesday it is too soon to announce the next governor of the Central Bank of Cyprus.

?There is a date on which the governor?s term expires,? he said in an e-mailed statement from the Press and Information Office in Nicosia. ?When the time is right we will announce names.?

Daily newspaper Politis reported that Christofias has already appointed Panicos Demetriades, a UK-based academic, to succeed Athanasios Orphanides, whose term expires on April 30.

Demetriades, who is professor for financial economics at the University of Leicester, declined to comment.

Cyprus is one of the 17 nations sharing the euro and its central bank governor sits on the European Central Bank?s Governing Council. [Bloomberg]