Cypriot Finance Minister Resigns

Cyprus Finance Minister Michael Sarris quit the government today after helping clinch the final terms of an international aid agreement to stave off a financial collapse of the island.

Sarris told reporters in Nicosia that he resigned due to a committee set up today to investigate the reasons that led to Cyprus's economic crisis. Sarris has served as chairman of Cyprus Popular Bank Pcl (CPB), the second-largest lender, which has been shut as part of the financial rescue.

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