Current situation in Cyprus: extracts from MEPs' debate
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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: - Jean-Paul GAUZÈS (EPP, FR) - Hannes SWOBODA (S&D, AT) - Guy VERHOFSTADT (ALDE, BE) - Daniel COHN-BENDIT (Greens/EFA, FR) - Takis HADJIGEORGIOU (GUE/NGL, Cy)
Duration 04:24
Reference 93333
Background MEPs criticised the handling of the Cyprus bailout programme during a debate on Wednesday, blaming the Eurogroup for its appalling communication, the Commission for not defending insured depositors, some member states for their 'colonial' approach when addressing Eurozone troubles and politicians for using double standards.

Last Friday the Eurogroup welcomed the staff-level agreement that was reached between Cyprus and the Troika institutions (comprised of the European Commission, the European Central Bank (ECB) and the International Monetary Fund (IMF)) 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.

Press release: Cyprus: MEPs criticise handling of bailout programme
Production format Pre-edited
Format 16:9
Copyright © European Union, 2013
Filename ebs93333[Lo-VI].mp4
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