Cypriot Finance Minister Resigns

Had negotiated the bailout agreement


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.