Eurogroup Statement on Cyprus

EU News 77/2016

07/03/2016

The Eurogroup supports the Cypriot government's decision to exit its macroeconomic adjustment programme without a successor arrangement. The Eurogroup commends the Cypriot authorities for the overall successful implementation of the programme and the important achievements made in the past three years, and also thanks the institutions for their vital contribution towards this end.

The Eurogroup welcomes the fact that economic activity has continued on a positive trend, and the banking system has further healed. The commitment of the authorities and the Cypriot people to the overall programme agreements has also been essential to a fiscal performance that has exceeded expectations. These positive developments have been instrumental in regaining investor confidence in the Cypriot economy, with the sovereign returning to the international markets.

Source and additional information:
http://www.consilium.europa.eu/en/press/press-releases/2016/03/07-eurogroup-statement-cyprus/

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