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Cyprus names Georgiades as new finance minister

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(Globalpost/GlobalPost)

NICOSIA (Reuters) - Cyprus appointed Harris Georgiades as finance minister, replacing Michael Sarris who resigned earlier on Tuesday.

Georgiades will be sworn in on Wednesday, a government statement said.

Georgiades was labour minister and deputy finance minister in Cyprus's government, which assumed power barely a month ago and is coping with a severe banking crisis after imposing losses on depositors as part of its 10-billion euro EU/IMF bailout.

(Reporting by Michele Kambas, writing by Harry Papachristou)

http://www.globalpost.com/dispatch/news/thomson-reuters/130402/cyprus-names-georgiades-new-finance-minister