Foreign Minister Ioannis Kasoulides has expressed the view that Cyprus can exit the bail-out programme it has agreed with its international lenders (EU Commission, IMF and ECB) by the end of the year, if it makes the right moves.
“If we act correctly, we can enter the markets very soon with our bail-out programme ending by the end of this year”, he told reporters.
Speaking after visiting the secondary school he had attended, the Pancyprian Gymnasium where he talked to students in the framework of the European project “Back to School”, Kasoulides said Cyprus should be patient and now is not the time to ask for a re-negotiation of its memorandum.
Regarding Monday`s Eurogroup meeting, the Foreign Minister wished for an agreement, saying it could pave the way for all sides to achieve understanding.
Kasoulides said criticism should not be directed against Greece only but it should also question the Eurozone`s current situation. He said other robust EU countries can fall into the same situation if they do not take measures in good time.
Excluded from the financial markets since May 2011, Cyprus concluded in March 2013 with the EU and the IMF on a €10 billion bailout to avert the collapse of its banking sector and cover its financing needs.
Regarding the agreement reached for a ceasefire in Ukraine, Kasoulides congratulated the governments of France and Germany but also the Presidents of Russia and Ukraine.
He expressed the hope that what was yesterday agreed will be implemented and there will be an end to the problems in Ukraine.