Cyprus Finance Minister Michael Sarris Abruptly Resigns; President Anastasiades Rejects Resignation

by Colonel on March 19, 2013

“Bloomberg and Reuters are reporting that Cyprus finance minister Michael Sarris has resigned, citing Market News International.

Sky News is citing sources as well, saying this is the case.

Sarris is in Moscow today to meet with Russian officials over the Cyprus bank bailout, so the timing of the reports seem very odd.

Now, CNBC reports that Cypriot President Nicos Anastasiades won’t accept the resignation.

@CNBC

ALERT: Cyprus Finance Minister offers to resign, resignation yet to be accepted.

Greek newspaper Kathimerini has its own report, saying, “Sarris is about to be replaced upon his return from his current trip to Moscow, Kathimerini understands, as he no longer enjoys the support of President Nicos Anastasiades following his handling of the crisis.”

” — Matthew Boesler, Copyright 2013 Business Insider

Update: President Anastasiades rejects FinMin Sarris’ resignation. Unclear what happens next.

Things just took a turn for the much worse following this news from Market News:

  • CYPRUS FINANCE MINISTER SUBMITS RESIGNATION – SOURCES
  • MARKET NEWS CITES SOURCES ON CYPRUS FINANCE MINISTER

Unclear if German FinMin Schauble will promptly step in to fill this latest sovereign vacancy.

Desperation time for the NY Fed to preserve the market green and give the impression that all is under control, when the rats are now actively leaving the Titanic.

” — Tyler Durden, Copyright 2013 ABC Media Ltd.

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