Central Bank Governor, Christodoulos Christodoulou announced on Friday his intention not to keep his post as a Governor. Speaking after the decision of the Monetary Policy Committee to leave interest rates unchanged, Mr. Christodoulou said that this decision was taken for personal reasons. “On February 16, I sent a letter to the President of the Republic in order to find my successor. I did the same on February 26”, he noted.

Responding to the question why he decided to withdraw few months before the island’s accession in the EMU, Mr. Christodoulou said that he did not do so to avoid the obstacles that might arise until the accession. “I have worked very hard for the island’s accession in the euro area. I think I have offered much towards this direction”, he added.

Invited to comment on his future professional career, Mr. Christodoulou avoided entering into details. “It’s been 5 years now that I work 15 hours a day. I will not stay inactive, that is for sure”, he stated.

Referring to the two meetings that he had with the President of the Republic on April 2 and 11, the CB Governor said that talks focused on the course to the euro and the Convergence Program. “I told Mr. Papadopoulos my opinion about the successor, but I wouldn’t like to say anything at the current stage”, he said.

On the question about his biggest mistake during his terms of office, he said that he will reveal it at the Central Bank’s press conference.