Cyprus Finance Minister: No delay in implementing the program

Cyprus has made progress and has already implemented some very tough but necessary decisions, Minister of Finance Harris Georgiades has said.

Georgiades who attended Monday the Eurogroup meeting said "I see no delay in implementing the program, we anticipate the start of the assessment which will begin later this month".
He noted that "we have made progress and I do not think there is criticism, instead Cyprus has already implemented some very tough but necessary decisions".

"Some practical difficulties arising from the implementation of the program particularly as regards the banking sector will be addressed in a spirit of cooperation with our partners", he stressed.

Asked about the meeting between Cyprus President Nicos Anastasiades and ECB President Mario Draghi, Georgiades said it was a very useful meeting at a high level where all issues were discussed and that this contact will continue.

Cyprus joined the EU in 2004 and in 2008 it adopted the euro. Last March Cyprus agreed with international lenders on a 10 billon euro aid package.