Bank of Cyprus CEO John Hourican was in London today accompanying President Anastasiades and Finance Minister Georgiades, where he spoke to investors about Cyprus' remarkable economic recovery.
Hourican spoke to Bloomberg about the changes that took place in Cyprus, pointing out that today the Cypriot banking sector has left the past behind it. ''Cyprus banks comply fully with the Patriot Act and Russian deposits are only at 6%'' he said, adding that most funds in Cyprus banks are from Europe.
During his short stop in London President Anastasiades addressed a business and economic forum to encourage investment in Cyprus. The Cypriot economy has been performing well as of late following a series of fiscal consolidation measures that led to an upgrade of the islands' credit worthiness. President Anastasiades is on his way to New York for the annual gathering of nations that takes place every September in the American metropolis.