University of Leicester economist appointed Governor of the Central Bank of Cyprus and member of the ECB Governing Council
Issued by University of Leicester Press Office on 1 May 2012
Image of Professor Demetriades available from firstname.lastname@example.org
One of Britain’s leading academics in financial economics has been appointed as the new Governor of the Central Bank of Cyprus. The post involves, among other responsibilities, membership of the Governing Council of the European Central Bank since Cyprus is one of the 17 countries that make up the euro area.
Panicos Demetriades, Professor of Financial Economics at the University of Leicester since March 2000 and Head of the Economics Department during 2002-2005, will take leave from the University to fulfil his new role.
Professor Demetriades is among the top authors in the field of banking, with numerous contributions to the literature on the role of finance in the process of economic growth. Professor Demetriades has also made key contributions to the literature on the role of public capital in promoting growth, employment and trade. He has been a consultant to the World Bank, the OECD and the Economic and Social Research Council. He was, until recently, Treasurer of the Money, Macro and Finance Research Group.
Professor Demetriades said:
“I am honoured that the President of the Republic of Cyprus, Mr Dimitris Christofias, has entrusted me in this new role, particularly at this difficult point in time for Cyprus and the rest of the euro area. Cyprus has a very large banking sector that has more than its fair share of exposure to Greece with all the implications that this entails at the current juncture for economic and financial stability.”
“Although it is certainly a new challenge for me, it is not one that I am ill-prepared for. My twelve years at the University of Leicester have equipped me with a range of skills, including management ones, that will help me in my new role. During the same period the University of Leicester has gone from strength to strength, something that is largely due to the inspired leadership of Professor Sir Robert Burgess. One thing I have learned is the difference that effective leadership can make to an organisation.”
Vice-Chancellor Professor Sir Robert Burgess added: “I am delighted for Professor Demetriades on his appointment. It is a very exciting opportunity for him personally but also highlights his experience and expertise in the field of economics and the strength of the University of Leicester in this area. We wish him every success in this splendid new role.”