European Commission statement on Cyprus

Since the autumn of 2011, the possibility of assistance to Cyprus under a programme has been under discussion by the Cypriot authorities with the Commission. In July 2012, Cyprus formally asked for assistance under a programme. The need for assistance comes essentially from problems in the Cypriot banking sector which was unsustainably large for the…

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Fitch note on Greek Economy

In its latest comment on Greece (05/02/2013) Fitch noted that Greece has hit its fiscal target for 2012 and posted a minor primary surplus despite economic underperformance. The deficit reduction was achieved by a combination of larger than expected cuts in primary government expenditure and private and official sector debt relief. Fitch stressed that continued…

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Statement by the Eurogroup President, Jean-Claude Juncker

I welcome the significant progress achieved in the preparation of the second Greek adjustment programme. I particularly welcome the detailed assessment of the Troika  that Greece has implemented all agreed prior actions in a satisfactory manner. The Eurogroup urges the Greek authorities to continue demonstrating strong  commitment and to keep up the implementation momentum by…

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