Central Bank of Cyprus calls in external investigators
The Central Bank of Cyprus today (August 24) announced it had commissioned professional services firm Alvarez and Marsal to conduct an independent investigation into why two Cypriot banks ended up requiring state support.
The investigation began immediately and the central bank said the hope was that the conclusions would provide "clarity and comprehension" about the current financial stress in the country as well as guide remediation efforts to strengthen the stability of the banking sector.
It
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