Troika mission wraps up contacts in Cyprus

A group of auditors of the European Commission, the European Central Bank and the International Monetary Fund, also known as Troika, wrap up today contacts in Cyprus.

This is the second week-long meeting as part of Cyprus` application for financial support from the EU bailout mechanism.

The Troika delegates will meet with the Parliamentary Committee of Financial and Budgetary Affairs and early afternoon will hold a second meeting with the Ministerial Committee on financial matters. The committee is composed of the Ministers of Finance, Labour and Social Insurance, Commerce, Industry and Tourism, the Government Spokesman and Undersecretary to the President.

Yesterday the troika chiefs met Cyprus President Demetris Christofias.

The Troika was here in early July on a fact finding mission for a close scrutiny of the banking sector, which has been severely hit by Greek sovereign debt haircut and over-exposure to the Greek economy, as well as the refinancing requirements of the government.