April 3, 2013 9:00 AM

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Cyprus Fin Min resigns as probe begins into his role in country's financial crisis

Cypriot Finance Minister Michalis Sarris has resigned as a judicial panel prepares to investigate the role that he and others played in the financial crisis that took Cyprus to the brink of bankruptcy. Sarris previously served as chairman of Cyprus's second largest lender, Laiki Bank, whose risky investments led to its break up last month under the terms of the 13 billion dollar international bailout.Cyprus Central Bank took a step yesterday to ease the financial pain of the people, partially relaxing transition controls aimed at preventing a massive flight of money from the banking system.

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