Cypriot commission criticises ‘cumbersome’ managerial structure at central bank

Central Bank of Cyprus, Nicosia
Photo: TourinNicosia/Wikimedia Commons

The Central Bank of Cyprus still bears many of the "poor governance arrangements" that contributed to the country's banking crisis, according to an independent commission that also said the central bank would benefit from a new management structure with a decentralised power base.

The Independent Commission on the Future of the Cyprus Banking Sector published its final report last week, where it argued that existing efforts to reduce the influence of the governor on central bank operations have

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