MEPs discuss debt crisis, regulation ahead of Cyprus presidency

MEPs from the Economic and Monetary Affairs Committee on Friday concluded meetings in Nicosia ahead of the Cypriot Council Presidency, with top ranking officials as well as regulatory entities and the civil society. The sovereign debt crisis, financial regulation, and constraints specific to smaller economies topped the discussions.
Finance Minister Vassos Shirarly expressed his satisfaction with "very constructive meetings", underlining that the Presidency would "spare no effort to reach compromises with the Parliament."
"The Cypriots have shown enthusiasm for the Presidency. I'm sure it will be very successful," said Committee chair Sharon Bowles (ALDE, UK). MEP Markus Ferber (EPP, DE) added: "With all this engagement we felt during this visit, we are sure that a lot will be achieved during this half year."
The EP delegation discussed the upcoming Presidency with top ranking officials, including Finance Minister, Vassos Shiarly, Deputy Minister for European Affairs, Andreas Mavroyannis, the President of the House of Representatives, Yiannakis Omirou, and several members of the committees on Foreign and European Affairs and on Financial and Budgetary Affairs of the House of Representatives. Meetings were also held with representatives from regulatory entities and the civil society, including the Commission for the Protection of Competition, the Cyprus Stock Exchange, the Securities and Exchange Commission, the Chamber of Commerce, the Employer's Federation, the Association of Cyprus Banks as well as trade unions.
Amongst other tasks, the European Parliament's economics committee is responsible for the EU's economic and monetary policies and for co-writing rules on the regulation and supervision of financial services, institutions and markets.