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Cyprus News Agency: News in English, 13-05-08
CONTENTS
[01] We made the best possible decision for Cyprus, Eurogroup President
says
[01] We made the best possible decision for Cyprus, Eurogroup President
says
"We did the best that was possible so that the Cypriot debt would remain
sustainable and the European taxpayers would not be burdened because of
the investment risks taken by the two Cypriot banks", Eurogroup President
Jeroen Dijsselbloem has said in response to criticisms by Members of
the European Parliament on dealing with the rescue of Cyprus.
Jeroen Dijsselbloem was asked to give explanations to the Committee on
Economic and Monetary Affairs of the European Parliament about what
had happened during the crisis in Cyprus but also the content of the
Eurogroup's decisions in March. In his introductory speech, Dijsselbloem
referred to the current developments emphasizing that the aid programme
for Cyprus has been finalized and it was the subject of much attention,
while he described it as an opportunity for Cyprus economy to get back
on the right track.
He added that the disbursement of the first tranche of the loan for
Cyprus will be made within May, noting that interest rates of the loan
will be low so that Cyprus will be able to pay it off. Asked how we had
arrived at this decision, he refused to reveal anything in relation to
the negotiations stressing that his role is not to refer to the position
held by each Eurozone country.
As he said, Cyprus' financial problem has arisen since 2011, but no
discussions were held to solve it, "because the Cypriots reached an
agreement with the Russians and gained time in order not to go into
a memorandum".
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