FURTHER signs emerged yesterday that Bank of Cyprus (BoC) has been reduced to a hapless hostage caught in crossfire between the government camp and the banking regulator.
A legislative proposal spearheaded by DISY envisages increasing the number of board members at the Central Bank of Cyprus (CBC) from five to seven, two of whom will act as executive directors.
The bill is co-sponsored by DISY’s Averof Neophytou, DIKO’s Nicholas Papadopoulos, the Greens’ George Perdikis and the European Party’s Demetris Syllouris.
The point of contention is a clause stipulating that, though final decisions rest with the governor of the CBC, the latter must have the consent of the board’s majority. 4 hours