Orphanides lambasts European ‘blunders’
Athanasios Orphanides, a former governor of the Central Bank of Cyprus, has hit out at the "mismanagement" of the Cypriot crisis by the European authorities who instigated the bail-in of depositors in March, and the communist government he holds responsible for the country's economic deterioration.
He said the decision to introduce credit risk into what used to be safe bank deposits – a decision he laid at the feet of the Eurogroup – was something "you definitely do not do during a crisis".
In
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Financial Stability
Turkish president appoints new governor
Erkan faces exceptional challenges as questions remain over Erdoğan’s willingness to cede control
Philippine central bank cuts lenders’ reserve requirements
Move comes after BSP paused monetary tightening in May
Eurozone needs harmonised resolution tools, officials say
Commission proposals could bolster stability and common deposit insurance plans, say supervisors
Economists warn Philippines state fund could increase corruption
Central bank will contribute annual dividends to fund for two years, delaying capital increase
IMF plays key role in Ukraine aid
Ukraine is first country to receive large loan under new lending standards
Rule-setters need to heed their own advice
The US risks a reputation for failing to meet standards to which it holds others
Banknotes: April to June 2023
A round-up of news and salient issues that have affected central bankers in the past three months
Boston Fed paper looks at wider impact of banking stress
High levels of leverage magnify impact of bank crises on output and employment