NICOSIA - The Central Bank has ordered an investigation into the conditions that led to the Bank of Cyprus and Laiki Bank requesting bailout aid.
Thje inquiry starts Friday and will be carried out by Alvares and Marsal (A&M) and international consulting company that offers its service to governments and other instituions including in Ireland, Greece and Spain.
The Central Bank believe the probe will lead to an understanding of the conditions that led to rge current unfavourable state of the Republic’s finances and the results should point in the direction that should be taken to boos the stability of the banking sector.