Thursday October 2, 2014 Search
Weather | Athens
27o C
19o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Cyprus foreign minister says only Luxembourg backed Nicosia in Eurogroup

Cypriot Foreign Minister Ioannis Kasoulides has admitted that Cyprus had not anticipated the Eurogroup’s demand that Nicosia impose a deposit tax and that Luxembourg was the only country to support the Cypriot position publicly.

“We were alone,” Kasoulides told Skai TV’s New Folders program. “That’s not to say Greece did not stand by us, as it always does, but we recognize its difficult position, as we recognize the difficult position of our Mediterranean partners. They told us behind the scenes they supported us but only Luxembourg spoke up in our favor during the Eurogroup and in general,” he added.

“France maintained silence. France’s problems might appear in the future and then it will need the help of its partners.”

Kasoulides said that Cyprus found itself in an extremely weak position at the first Eurogroup, on March 15, when the deposit tax was proposed and at the meeting of eurozone finance ministers on Sunda.

“It was clear that the directorate, in other words the European Central Bank, the International Monetary Fund and Germany wanted to impose the solution that was adopted in the end. Our position was weakened by the fact that apart from fiscal problems, we had a banking sector ready to collapse without the support of the European Central Bank,” he said.

“At the first Eurogroup, on March 15, our delegation was not prepared, or encountered something different to what it had been expecting. At the start of the evening, the European Commission was against a haircut on deposits but under pressure from the IMF and the threat that ELA funding for our banks would be stopped, the final proposal was formed.”

Kassoulides said the second Eurogroup agreement was only reached after the European Central Bank agreed to continue providing liquidity for a restructured Bank of Cyprus.

He also questioned the role Germany had taken in the negotiations.

“It’s clear that Germany wants to impose its views on the peoples of southern Europe, which need her at the moment. The toughest decision was that for Cyprus: it was a ruthless decision to wreck the country’s economic system, which will have huge and unpleasant consequences.”

Kasoulides added that the German opposition Social Democrats (SPD) had played a part by adopting a tough line on Cyprus in the country’s Parliament.

“They wanted to show the Germany taxpayers’ money would not be used to bailout Russian deposits, some of which they claimed was of dubious origin. This is where the game began.”

On Cyprus’s ties with Russia and a failure on Nicosia’s part to attract further investment from Moscow, Kasoulides said that Russia’s interests were in maintaining good relations with the European Union.

“This is their best market for natural gas exports and I don’t think they would risk this relationship for something that appears out of the blue,” he said.

“We want to maintain good relations with Russia but the usefulness of these relations passes through our ability to be a trustworthy member of the European Union.”

ekathimerini.com , Wednesday March 27, 2013 (13:39)  
Terror group link prompts police raids and arrests
Samaras to seek confidence vote in bid to rally coalition
Police bust airport trafficking ring
Undocumented migrant flows to Greece ‘have tripled’ minister says
Attica Bank said to have rejected notable offers
Attica Bank has turned down buyout proposals from strong institutional portfolios and investors in recent months, setting the maintenance of the present share and administrative structure of...
PMI index slides anew in September
Greece’s Purchasing Managers Index (PMI) fell last month to its lowest point this year, hitting 48.4 points – below the zero-change point of 50 points – according to Markit, which compiles t...
Inside Business
SOCCER
Rosenberg punishes Olympiakos´s errors at Malmoe
A disappointing Olympiakos got the worst possible result from its clash with Malmoe in Sweden for the Champions League, going down 2-0 on Wednesday due to its own defensive errors and attack...
SOCCER
All team sports suspended next weekend in memory of dead fan
The government announced on Monday the suspension of all team sports events in Greece scheduled for next weekend, October 4 and 5, in the memory of the Ethnikos Piraeus fan who died a few ho...
Inside Sports
COMMENTARY
Truth before the battle
The coalition has lost its sense of direction in the last few months. Exactly where things went off track is not the question at this stage. What is certain is that if it continues competing...
EDITORIAL
Bending the rules
The flexibility with which laws are implemented has been a fundamental cause for concern in Greece during the post-dictatorship era. Everything becomes a subject for negotiation, even in cas...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Rosenberg punishes Olympiakos´s errors at Malmoe
2. Terror group link prompts police raids and arrests
3. Samaras to seek confidence vote in bid to rally coalition
4. Attica Bank said to have rejected notable offers
5. PMI index slides anew in September
6. Costa Navarino to host big events
more news
Today
This Week
1. Air-raid sirens to go off all over Greece at 11 a.m. in drill
2. Mario Draghi to push ECB to buy Greek, Cypriot 'junk' loans: FT
3. Truth before the battle
4. Smallpox decimates sheep stocks in northern Greece
5. Thessaloniki transport gets more expensive
6. Bending the rules
Today
This Week
1. Greece may opt for unusual president to avoid snap polls, Venizelos says
2. Woman allegedly buried alive by accident in northern Greece
3. Salaries in Greece continue to slide, dipping 1.4 pct in Q2
4. Should you bet with Kissinger on where the world is heading?
5. Cypriots divided by 1974 war seek Shariah hub
6. The shocking thought of euro-dollar parity
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.