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House delegation briefs Olli Rehn and EP political groups on Cyprus economy and money

30 January, 2013

Issues related to Cyprus economy and the accusation against the country for money laundering, were discussed during meetings in Brussels of a delegation from the Cyprus Parliament with the Vice President of the European Commission Olli Rehn, and with political groups of the European Parliament.

The House delegation comprises of MPs Averof Neofytou (DISY), Christos Stylianides (DISY), Stavros Evagorou (AKEL), Pampos Papageorgiou (AKEL), Nicholas Papadopoulos (DIKO), Nicos Nicolaides (EDEK), and Giorgos Perdikis (Green).

Papadopoulos stated that the delegation briefed the political group of the European People’s Party (EPP), the group of the Progressive Alliance of Socialists and Democrats in the EP and the political group of the European United Left.

During the meetings with the political groups and the Commissioner on Financial and Monetary Affairs Olli Rehn, the delegation briefed the European officials on the current situation of the Cyprus economy, as well as on the House commitment to adopt every measure in order to shed light on the accusation against Cyprus for money laundering.

Referring to the meeting with Rehn, Neofytou said that the delegation made it clear that Cyprus is committed to implement what has been agreed. The Cypriot MPs told him that there is a political commitment to proceed with an agreement for the adoption of a Memorandum with Troika (IMF, EC, ECB), Neofytou added.

On the issue of money laundering, the Cypriot parliamentarians stressed to Olli Rehn that Cyprus has nothing to hide and that CoE MONEYVAL is more than welcomed to visit Cyprus and to evaluate the legal framework and its implementation. According to sources, Rehn welcomed the stance of the political parties of Cyprus.

In addition, according to an official announcement, issued on Wednesday, the members of the Cypriot delegation participated at the first meeting of “European Parliamentary Week” on the European Semester for Economic Policy Coordination.

On Tuesday afternoon, added in the announcement, the Cypriot Parliamentarians had contacts with Members of the National Parliaments of Estonia and Germany briefing them on the situation with the Cyprus economy and the money laundering issue.

Last week the Cyprus House has decided to take action to counter money laundering allegations and at the same time the parliamentary parties also agreed to have contacts with their affiliates in other European countries to brief them on the country’s compliance with international and European practices.

Accusations about Cyprus banks being used for money laundering purposes have emerged in the past few months, amid Nicosia’s negotiations with the Troika to secure a bailout deal. Reports, especially in the German Press, were echoed from politicians, government and EU officials. The Cyprus government has rejected the accusations, replying that the country has adopted and implements all relevant European and international laws against money laundering.