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MEPs focused on the recent EU summit, financial services legislation and the specific difficulties facing Cyprus' economy.
MEPs warned Mr Shiarly that the Presidency would need to work very hard indeed to close files on financial services, as some countries were proving highly intransigent on their positions. They also raised concerns that countries were already rowing back on their commitments made at the EU summit.
Explaining the situation of Cyprus, Mr Shiarly said that the "haircut" imposed on Greek bond creditors had severely hurt the Cypriot economy and that this was what had led to the country's request for financial assistance.