Finance Minister reiterates government’s commitment to credible public finances

“The Eurogroup will now have the opportunity to be informed about the course of the Cypriot economy, almost two years after our exit from the MoU,” Finance Minister Haris Georgiades said entering todays Eurogroup meeting in Brussels. The minister stressed that he will reiterate the governments commitment to credible fiscal policy to his counterparts.

Commenting on the results of the Post Programme Surveillance report, the Minister said that “the picture of the economy I believe, is clear and demonstrates the great effort of our fellow citizens, the great effort of the productive forces and for my part I will be able to renew my commitment government to maintain policies of stability, policies that are credible on our economic policy, not so much to satisfy our partners, or common rules, but above all because these are the policies that create slowly a positive outlook for our fellow citizens, correcting things for our fellow citizens “.

“It is neither slogans nor populisms that create jobs and a positive outlook, but the political efforts and credibility and a joint effort that we must maintain,” said Georgiades.

Asked by the CNA whether the situation with the Italian budget is de-escalating, after the domestic developments in the country this weekend, the Minister of Finance said: “I would not like to make suggestions on how other states will manage their own fiscal planning, but we have some common rules, which are the ones that guarantee the stability of the eurozone, the stability of our economies as a whole, and we therefore hope that at this stage decisions will be taken.”

With regard to the forthcoming decisions of the Eurozone summit preparing the current eurogroup, the Minister said “I think the proposals are in the right direction and can form the basis for decisions to be taken next. I am not sure that by the 14th of this month it will be possible to make decisions on the whole range of open issues that we have before us, but at least decisions must be made on key issues such as those relating to the European Stability Mechanism and let the next steps of the banking union”, he stressed.

Invited to clarify the position of Cyprus in relation to the EDIS Deposit Guarantee, the Minister noted: “I do not think it goes to second place, it should not come to second place as it is an integral part of the banking union, complements the banking union and so what needs to be decided is how to approach and implement it, in any case, it is an integral part of the banking union, ” he noted.

Source: Cyprus News Agency