Cypriot economist Kikis Kazamias has been appointed new finance minister to head the island's fight to ward off bankruptcy, ٌthe president's office announced on Friday, according to Reuters. "President of the Republic Demetris Christofias has appointed a new cabinet," a statement from his office said, including Kazamias in a list of ministers. The Mediterranean island's cabinet resigned on July 28, bowing to public pressure after a massive munitions blast that sharply aggravated financial difficulties in Cyprus, which has suffered a series of ratings downgrades because of fiscal slippage and the exposure of its banks to debt-burdened Greece. -- SPA
