Eurogroup praises Cyprus’ progress

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Delegates of the Troika recently visited Cyprus to evaluate the progress in the implementation of the Cyprus economic program aiming to stabilise the financial sector and the overall economy of the Republic.

Below are the remarks concerning Cyprus, by Jeroen Dijsselbloem, president of the Eurogroup, at the press conference following the meeting of the Eurogroup of 17 February 2014:

“On Cyprus, the Troika debriefed us on the main findings of the third review mission.  We of course welcomed the conclusion of the Troika that the programme remains on track. The macroeconomic and fiscal data for 2013 turned out to be better than expected and that is of course good news. In addition it is good to see that the financial sector is stabilising in Cyprus, allowing for the second phase of the gradual relaxation of restrictions to start shortly.”

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