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Confirmation of Cyprus’ Steady Recovery

Remarks by the Minister of Finance after his meeting with the Vice-President of the European Commission.

Published on: 03 March 2016

Let me start by saying how delighted we are to have with us, here in Nicosia, the Vice-President of the European Commission and a leading figure in European politics, Mr Valdis Dombrovskis.

This is a very timely visit, as it coincides with the completion of the Cyprus support programme.

We had the chance to review the good progress achieved during the last three years, which saw the stabilisation of the banking sector, the consolidation of public finances, the promotion of much needed structural reform, the re-establishment of market access and primarily, the return to positive growth rates.

But it was also an opportunity, both for the President and for myself, to reiterate the continued commitment of the Government of Cyprus to the policy of reform and fiscal consolidation. Besides, this is the policy which has been delivering results and we know that there is more which needs to be done.

The completion of the programme is not the end of the road, but it is a new beginning, which will see dedication, commitment and effort, in the direction of further reforming the economy of Cyprus, staying clear of the mistakes of the past.

We also had the chance to discuss the prospects of the re-unification of Cyprus, which remains the top priority for our Government, and how the European Commission could be of help in ensuring how a re-unified Cyprus could function effectively as a member of the European Union and the Eurozone.

Mr Vice-President, thank you for all your help and support.

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