Cyprus president to seek removal of Central Bank chief

Staff Writer
Columbus CEO

NICOSIA, Cyprus (AP) — Cyprus' president says he will seek to have the bailed-out country's embattled Central Bank chief removed from her post over a perceived conflict of interest.

President Nicos Anastasiades met late Sunday with Central Bank Governor Chrystalla Georghadji to contain the damage from a debacle that also threatens to erode his personal credibility as he tries to nurse the country back to financial health.

Government Spokesman Nicos Christodoulides said Georghadji was in breach of her contract because her husband's law firm represents the former head of a defunct lender, who's embroiled in a legal battle with the Central Bank.

Anastasiades appointed Georghadji a year ago following her predecessor's resignation after the Cypriot president accused him of botching the country's bailout negotiations with international creditors a year earlier.