Discussions between the Troika (Commission, ECB, IMF) with the Cypriot authorities to provide financial support to Cyprus have achieved some progress, while consultations still continue, European Commission Spokesman Simon O’ Connor said Monday.
Speaking to CNA from Brussels, O’ Connor noted that no specific date for the return of the Troika mission to Cyprus has been confirmed yet.
According to the Spokesman, in July there was a series of meetings at political and technical level in the framework of the Cypriot authorities` request for financial support. As said, these discussions have focused on developing an appropriate financial strategy and the promotion of structural reforms. Some options were discussed and progress has been achieved, he went on to note.
He added that consultations with the Cypriot authorities continue and that the date for the next Troika mission to Cyprus has not been determined yet.
The Government of the Republic of Cyprus has late June informed the appropriate European Authorities of its decision to submit to euro area Member States a request of financial assistance from the EFSF/ESM. The purpose of the required assistance, according to the government, is to contain the risks to the Cypriot economy, notably those arising from the negative spill over effects through its financial sector, due to its large exposure in the Greek economy.
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