Current situation in Cyprus: extracts from the Council and Commission statements
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Event date 17/04/2013
Short description Debate on the current situation in Cyprus during the plenary session of the EP in Strasbourg. Statements by: - Lucinda CREIGHTON, Irish Minister for European Affairs, speaking on behalf of the Irish Council Presidency - Olli REHN, European Commissioner for Economic and Monetary Affairs and the Euro and vice president of the European Commission
Duration 04:02
Reference 93332
Background - extract from Council and Commission statements: Plenary Session in Strasbourg

Last Friday the Eurogroup welcomed the staff-level agreement that was reached between Cyprus and the Troika (comprised of the European Commission, the European Central Bank (ECB) and the International Monetary Fund (IMF)) institutions on the policy conditionality underlying the macroeconomic adjustment programme. The Eurogroup considered that the necessary elements are now in place to launch the relevant national procedures required for the formal approval of the European Stability Mechanism (ESM) financial assistance facility agreement for an amount of up to EUR 10 bn, subject to IMF's contribution. The IMF’s Board is expected to consider in early May Cyprus’ request for a 3-year Extended Fund Facility of an amount of about EUR 1 bn. The Eurogroup expects that the ESM Board of Governors will be in a position to formally approve the proposal for a financial assistance facility agreement by 24 April 2013, subject to completion of national procedures.
Production format Pre-edited
Format 16:9
Copyright © European Union, 2013
Filename ebs93332[Lo-VI].mp4
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