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Cyprus News Agency: News in English, 13-03-14

Cyprus News Agency: News in English Directory - Previous Article - Next Article

From: The Cyprus News Agency at <http://www.cyna.org.cy>


CONTENTS

  • [01] Schultz: Cyprus deserves equal treatment
  • [02] House President departs for working visit to London
  • [03] Schäuble: The Bundestag will approve a rescue package for Cyprus

  • [01] Schultz: Cyprus deserves equal treatment

    Cyprus deserves the same treatment by its partners as other countries, President of the European Parliament Martin Schultz said on Thursday, after a meeting in Brussels with President of the Republic of Cyprus Nicos Anastasiades.

    In joint statements after the meeting, Schultz said "we will do everything we can for Cyprus to overcome the crisis," adding that they discussed Thursday's European Council, the future of the Economic and Monetary Union and the dismissal of the Multiannual Financial Framework by the European Parliament, as well as the forthcoming negotiations for a compromise.

    Schultz noted that they also discussed the contribution of Cyprus and the European Parliament to a just and comprehensive agreement on this issue, and noted that one of the preconditions set by the European Parliament was a balanced budget for 2013, because any deficits in 2013 will mean that 2014 would begin on a budget based on false data.

    [02] House President departs for working visit to London

    President of the House of Representatives Yiannakis Omirou will pay a working visit to London.

    Omirou departed on Thursday for the British capital where he will hold meetings with Archbishop Gregorios of Thyateira and Great Britain, British MPs and MEPs and representatives of the Cypriot community in London.

    He will return to Cyprus on Sunday.

    [03] Schäuble: The Bundestag will approve a rescue package for Cyprus

    German Finance Minister Wolfgang Schäuble appeared certain that the Bundestag, the Lower House of the German Federal Parliament, will approve a rescue package for Cyprus, still to be agreed, adding however that "we have not reached that point yet".

    In an interview with "Passauer Neue Presse", Schäuble said that "we must talk about the cause of this problem, before we can talk about providing assistance", while referring to Cyprus' "oversized banking sector" and to "accusations about money laundering".

    Excluded from international capital markets, Cyprus has requested financial assistance from the EU bailout mechanism after its two largest banks sought state aid following massive losses of their Greek bond holdings estimated at €4.5 billion, as a result of the Greek sovereign debt haircut.


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