London, Tuesday, 4 October 2022
On Tuesday, 19 central bank governors from the European Union are scheduled to arrive in Cyprus. The European Central Bank's Governing Council determined that its non-monetary policy meeting, which was set to take place in Cyprus on Wednesday and Thursday, will be presided over by ECB President Christine Lagarde.
Lagarde is in Cyprus for the second time in a calendar year. The most recent visit took place on March 29, when she accepted Governor Constantinos Herodotou of the Central Bank of Cyprus' invitation.
Each year, the ECB council selects a location outside of Frankfurt where governors of central banks can gather to talk about topics other than monetary policies.
The fact that Cyprus was selected as the location for the ECB's annual meeting is significant for the nation and a testament to the efforts of CBC Governor Herodotou, particularly in the wake of the 2013 hair cut and the scandalous "golden passport" investment scheme, which was abandoned by the European Union as a result of the numerous conflicts of interest it had been found to have.
The gathering is slated to happen in Limassol.
(Source: Kathimerini.gr // Report by: The Decision Maker – International Relations editors)