Cypriot Gov’t: Eurogroup Decision Secures Greece’s Position in the Eurozone



cyprus_eu

Friday’s crucial Eurogroup meeting with both the Greek side and the Eurozone member states’ Finance Ministers appearing pleased with the negotiations outcome, is what has been described as a rare compromise. Cyprus, among the 19 Eurozone members, has welcomed the historic decision on Greece’s financial assistance.

In a written statement issued earlier by the government spokesperson Nicos Christodoulides, it is highlighted that the four-month loan agreement extension, until April, secures the country’s position within the Euro area, while reform efforts receive a new impetus. According to Mr. Christodoulides, the decision between Athens and the Finance Ministers of the Eurozone is “very positive and significant for Greece and for Europe.”

Furthermore, the Cypriot official highlights that these are the very same goals that Cyprus is aiming for, through collective work, responsibility, which have produced concrete results. With assertiveness and by keeping the interests of the Cypriot people in mind, the government is working towards the economy’s full recovery, the announcement concludes.

As declared, the new deal entails a four-month extension of the loan agreement without new austerity measures and a commitment that no unilateral actions will be taken.


LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.