The development of the resilience of the European banking system and consequently of the Cyprus banking system, contributes to dealing with shocks, said today the Chairman of the Single Resolution Board Dominique Laboureix, who is paying a visit to Cyprus.
Laboureix met on Thursday with Minister of Finance and Governor of the Central Bank of Cyprus in Nicosia.
In his statements after the meeting, Laboureix said that this is his first visit here as a Chairman of the Single Resolution Board, noting that it is important for him to develop a strong relationship with the local authorities, the Central Bank and the Ministry of Finance.
‘We have had fruitful discussions about the Cyprus economy, the banking sector in particular and the way forward,” he said.
What we are building inside the Banking Union, he noted, “is a strong connection, a strong relationship to increase this level of understanding, of common views, to be able to withstand the potential shocks. By developing the resilience of the banking system
, we are making these shocks more remote.’
The European official pointed out that that is why it is so important to have this interaction between the Single Resolution Board in Brussels and all the national resolution authorities, here the Central Bank of Cyprus.
‘It’s a very good opportunity for me to strengthen this dialogue, to exchange views and to be able to prepare for the future, for a stronger resilience of the banking sector,’ Laboureix said.
The Minister of Finance Makis Keravnos said that they had a very interesting discussion and exchange of views on issues concerning the banking sector and how important it is to have an appropriate and strict supervision that generally maintains the banking system of Europe and as a result of Cyprus, in a condition that can respond to the needs of the economy and society.
Source: Cyprus News Agency