ECONOMY

Cypriot central bank governor to be quizzed over probe by Parliament

Cyprus’s embattled Central Bank governor will soon be quizzed by Parliament on whether he withheld information from lawmakers over the scope of an investigation into the island’s banking system leaked last week.

Central Bank Governor Panicos Demetriades has come under fire from lawmakers and the government for his handling of a banking crisis which crippled the island’s two largest lenders and left the economy in disarray in return for a 10-billion-euro international bailout.

Now lawmakers want to know whether a Central Bank-commissioned investigation into the cause of difficulties at the two banks was flawed, excluding activities at one bank which manifested the first signs of Cyprus’s economic demise in late 2011.

[Reuters]