Cyprus Mail

Kasoulides thinks Cyprus could exit bailout this year

Foreign Minister Ioannis Kasoulides

Foreign Minister Ioannis Kasoulides believes Cyprus could exit the bailout programme it has agreed with its international lenders (EU Commission, IMF and ECB) by the end of the year, if it makes the right moves.

“If we act correctly, we can enter the markets very soon with our bailout programme ending by the end of this year,” he told reporters.
Speaking after visiting the Pancyprian Gymnasium where he talked to students in the framework of the European project “Back to School”, Kasoulides said Cyprus should be patient and now was not the time to ask for a renegotiation of its memorandum.

egarding Monday`s Eurogroup meeting on Greece, the foreign minister hoped there would be a deal, saying it could pave the way for all sides to achieve understanding.

Kasoulides said criticism should not be directed against Greece only but at the current situation in its entirety. He said other robust EU countries could fall into the same situation if they did not take measures in good time.

Excluded from the financial markets since May 2011, Cyprus concluded in March 2013 a €10 billion bailout to avert the collapse of its banking sector and cover its financing needs.

Regarding the agreement reached for a ceasefire in Ukraine, Kasoulides congratulated the governments of France and Germany but also the Presidents of Russia and Ukraine.
He expressed the hope that what was would be implemented and that there would be an end to the problems in Ukraine. (CNA)

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