Troika mission continues contacts in Cyprus

The Troika mission to Cyprus (European Commission, ECB and IMF) continues its contacts on the island Thursday and Friday with a series of meetings as part of evaluating the Cypriot economy, following the Republic’s application for financial assistance from the EU bailout mechanism, to negotiate with the government the bailout terms and conditions.

The Troika representatives met Thursday morning with chairman of the Democratic Rally Party Nicos Anastasiades. It will also have a meeting with officials from the Finance Ministry while on Friday they will meet the House of Representatives Finance Committee.

The Troika mission will also continue its discussion with the Ministerial Committee responsible for economy matters, made up of Ministers of Finance, Vasos Sharly, Labour and Social Insuirance Sotiroula Charalambous, Commerce, Industry and Tourism Neoclis Sylikiotis, Permament Secretary to the President Titos Christofides and Government Spokesman Stephanos Stephanou.

Government Spokesman Stephanos Stephanou had said on Tuesday that the Troika “submitted its own estimates on the Cypriot economy on the basis of the data collected during its first visit to Cyprus ". He also noted that a very deep dialogue was held and that the discussion will continue on Friday.

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.
CNA/KST/EC/GCH 2012