Cyprus’ President has cut his salary by a quarter in a show of solidarity with ordinary Cypriots feeling the effects of the country’s severe financial crisis. President Nicos Anastasiades authorised the country’s accountant-general to make the pay cut, undersecretary to the President Constantinos Petrides said. Mr. Anastasiades’ Cabinet ministers have also decided to slash their own wages by 20 per cent.

Panel to probe

Meanwhile, the Cypriot Cabinet appointed a panel of three ex-supreme court judges on Thursday to investigate whether criminal activity was involved in the island's banking meltdown. The panel would look at whether there were “criminal, civil and political responsi bilities’’ to answer for, Mr. Constantinos Petrides told reporters. — AP, AFP