Cyprus News Agency: News in English, 13-03-21

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

CONTENTS

[01] North London MPs to meet minister over Cyprus

[02] We need a European solution to the Cyprus problem, not a Russian one,

MEP of EPP says

[01] North London MPs to meet minister over Cyprus

The meeting will be an opportunity for community leaders to put their concerns directly to a UK government minister. Prime Minister David Cameron has already announced support for UK troops stationed on the island that will be affected by the EU & IMF's potential bail out terms. Under proposals agreed at a Eurogroup meeting at the weekend, it was announced that the Cypriot government would be given access to a €10 billion bailout package in exchange for a levy on deposits in Cypriot banks.

Mike Freer MP said that the levy supported by eurozone Finance Ministers will have a major impact on UK citizens in Cyprus, and the London based Greek Cypriot community. "That's why my parliamentary colleagues and I will take every possible action to support those affected," he added Theresa Villiers MP said: "This is an anxious and uncertain time for my British Cypriot constituents in Chipping Barnet. I welcomed the chance to talk to Greg Clark about the current situation. The eurozone crisis has had such a damaging impact on so many lives over recent years. Now Cypriots have suffered this heavy blow and I will be working to provide reassurance to my Cypriot constituents at this difficult time."

[02] We need a European solution to the Cyprus problem, not a Russian one, MEP of EPP says

According to a press release of EPP, Wortmann-Kool has stressed that the situation in Cyprus is critical, but it was not created over the past two weeks. "President Anastasiades inherited a very deep crisis. My question is: how come all of a sudden small savings and depositors are no longer protected? This is a dangerous precedent. It takes years to recover trust by depositors. Why hit the small savers? The crisis in Cyprus has sounded an alarm bell. We have to speed up the regulation of financial markets. Above all, we need a European solution to the Cyprus problem, not a Russian one".

"Legislation on the financial sector is progressing, but precious time has been lost. The rules we are setting now would have ensured a much better protection of depositors in Cyprus. There would be a solid legal framework for the contribution of shareholders of the banks", she added during a post-summit debate in the European Parliament on Wednesday.

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