US Treasury Department in touch with Europe during Cyprus crisis talks

White House spokesman Josh Earnest noted today that US Treasury Department senior officials have been in touch with their colleagues in Europe while the latter were dealing with Cyprus’ financial crisis.

Josh Earnest was asked what is the US position on the EU deal to rescue Cyprus that includes a measure that will still affect depositors.

Recalling that his colleagues at the Treasury Department have issued a statement on this, he said that “as we have stood with our partners in Europe as they’ve dealt with some of the financial instability that they’ve been experiencing over there, it has been the senior officials at the Treasury Department have been the principal point of contact for their colleagues”.

He also reminded that President Obama has talked about the impact that this instability on the financial system in Europe has had on the American economy, indicating that “it’s something that we’re engaged in trying to help the Europeans to solve”.

He said that he has nothing additional to say about it beyond the statement of the Treasury Department .

Asked whether President Obama has talked with anyone in Europe after this deal came through, Josh Earnest said that he doesn’t have any calls to read out at this time, adding that a number of officials in the Treasury Department have been in touch with their colleagues.

The Eurogroup reached an agreement with the Cypriot authorities "on the key elements necessary for a future macroeconomic adjustment programme", according to a press release issued by Eurogroup.