Panicos Demetriades, the aptly named leader of Cyprus’ central bank, spoke in an interview with Bloomberg:
- He says the government doesn’t have the right to sell gold reserves without central bank approval
- Govt also doesn’t have the right to resind appointment of deputy gov Stavrinakis
“The government seems to have committed to a sale of state gold without consulting the central bank,’ Demetriades said. Earlier today Draghi warned about sanctions for governments from intervening in central bank affairs.
