Shemaine Bushnell Kyriakides
Nineteen central bank governors from the EU countries are expected to arrive in Cyprus tomorrow. The Governing Council of the ECB decided to hold its non-monetary policy meeting in Cyprus which is scheduled on the 5th and 6th of October and will be chaired by the President of the ECB Christine Lagarde.
The next non-monetary policy meeting of the Governing Council will take place on 5 October in Cyprus, organised by the Central Bank of Cyprus, followed by an informal get-together on 6 October.— Christine Lagarde (@Lagarde) September 29, 2022
I look forward to seeing my colleagues there!
This is the second time this year that Christine Lagarde has visited Cyprus. The last visit was on March 29th of this year when she accepted the invitation of Cyprus Central Bank governor Constantinos Herodotou. During her visit, Ms. Lagarde has meetings with President Nicos Anastasiades, the CBC governor and three women's associations. She also held several town hall meetings where she answered pressing questions about the state of the EU economy and the challenges faced y EU states due to Russia's invasion of Ukraine.
Every year the ECB council chooses a city outside of Frankfurt where Central Bank governors can meet to discuss issues other than monetary policies.
The fact that Cyprus was chosen as the venue for this annual meeting is of major importance for the country and a nod to the efforts of our own CBC governor Mr. Herodotou, especially in the aftermath of the 2013 haircut and the scandalous 'golden passport' investment scheme, terminated by the EU due to the many conflicts of interest raised.
The meeting is scheduled to take place in Limassol on the 5th and 6th of October.