The Administrator Returns

15 December 2014

The Central Bank of Cyprus’ Administrator, responsible for running FBME Bank’s Cyprus branch, has returned today after his latest unexplained absence. As is known, he left at 1 pm on Tuesday, thereby blocking any transactions from being made for the rest of the week. This outcome is due to the draconian measures he has put in place which means he has to approve every transaction and his refusal to appoint a deputy to act in his stead.

Still, he is now back and transactions up to EUR 2,000 a day by cheque – another draconian diktat – have re-started.