25 February 2013

Cyprus elections: Statement by President Barroso / Joint statement by Finance Ministers Schäuble and Moscovici

"The Cypriot people have given Mr Anastasiades a strong mandate to implement his programme of reform and to do what it takes to ensure fiscal and financial sustainability", said Barroso.

President Barroso on the result of the Presidential elections in Cyprus:

President Barroso warmly congratulated Nikos Anastasiades on his election as the President of Cyprus.

"The Cypriot people have given Mr Anastasiades a strong mandate to implement his programme of reform and to do what it takes to ensure fiscal and financial sustainability. I spoke to Mr Anastasiades immediately after the result became known and I have assured him that he can count on the continued commitment of the European Commission to assist Cyprus to overcome the challenges it faces. I have also assured the President-elect of our unwavering support for the efforts to achieve a lasting settlement towards the reunification of Cyprus. I wish Nikos Anastasiades every success for his mandate."

Press release © European Commission

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Joint statement by German Federal Finance Minister Dr Wolfgang Schäuble and French Finance Minister Pierre Moscovici:

"We welcome the result of the Cypriot elections on 24th February, which will allow for the formation of a government that will quickly continue with the negotiations about a financial assistance programme for Cyprus. Discussions should resume shortly with a view to reach an agreement before the end of March. We call on the Troika and the Cypriot authorities to make progress towards finalising the draft Memorandum of Understanding.

As already stated by the Eurogroup, such a programme should achieve a significant financial, fiscal and structural adjustment, as foreseen in the draft Memorandum of Understanding agreed at staff level on 23 November, 2012. It will inter alia provide for a close monitoring of the Anti-Money Laundering and tax transparency frameworks and their implementation.

The former government had already implemented measures of the MoU in the 2013 budget and we are confident that the forthcoming government will significantly accelerate the pace of reforms to sustainable growth and to fiscal and financial stability which are in the interest of Cyprus and the Euro area as a whole."

Press release © Bundesfinanzministerium