Cyprus President Christofias on EU meeting of Eurozone leaders

The main purpose of the Extraordinary meeting of the Heads of State and Government of the Euro Zone states in Paris was to give a message of support from the EU member states and the European Central Bank to the financial system of the EU countries, President of the Republic of Cyprus Demetris Christofias has said.

Speaking after the Extraordinary meeting of the Heads of States and Governments of the countries that have adopted the euro as their currency, President Christofias said the outcome of the meeting was “state intervention to restore the liquidity and the capital base of the banks at risk, and thus to avert the adverse and destructive fallout (of the financial crisis) on the real economies of the Member states, as well as to support depositors”.

“The joint declaration of the 15 Euro Zone member states, will be the Commission’s recommendation at the forthcoming EU Summit, on Wednesday in Brussels, and more or less this will be the decision of the EU Summit”, President Christofias concluded.