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European Commission


Brussels, 23 November 2012

Statement by Vice-President Rehn on Cyprus

I welcome the decisive progress that has been made in the discussions between the European Commission, European Central Bank, International Monetary Fund and the Cypriot authorities on the key policies needed to strengthen public finances, restore the health of the financial system, and strengthen competiveness. I consider this as an important step towards full agreement on an assistance programme for Cyprus which can be finalised once the interim results of the due-diligence exercise are known, and after agreement by the Eurogroup. The interim results of the due-diligence exercise are expected in a few weeks.

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