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Central Banks of Cyprus and Greece to sign Memorandum of Cooperation

Relations between the Central Bank of Cyprus (CBC) and the Bank of Greece (BoG) are expected to enter a new phase, with the signing of a Memorandum of Cooperation by the two Central Bank Governors.

The Memorandum will establish cooperation between the two Central Banks in specific areas, enhancing the expertise of both authorities, CNA reported citing sources from the CBC. For this purpose, BoG Governor Yannis Stournaras and a delegation from the BoG will visit Cyprus 1 March.

The Memorandum, to be signed by Governors Yiannis Stournaras and Constantinos Herodotou, focuses on further strengthening cooperation in areas such as resilience exercises, technological and climatological risks, falling within the framework of the CBC's broader effort to enhance relationships with other central banks.

The signing of the Memorandum marks the culmination of efforts initiated several months ago, enriching the field of cooperation between the two Governors, who, in addition to cooperation at the institutional level, maintain close contact both at national level and within the Governing Council of the European Central Bank.

During his visit, Stournaras and the BoG delegation will have meetings with both President of the Republic Nikos Christodoulides, and Minister of Finance Makis Keravnos.

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