A Troika mission, in Cyprus to negotiate a European rescue package, continued talks with the government today (Saturday). The Troika delegation held a meeting in the morning at the Ministry of Finance with Cyprus’ negotiating team comprising, inter alia, Minister of Finance Vasos Shiarly, Labour and Social Securities Minister Sotiroula Charalambous and Minister of Commerce, Industry and Tourism Neoklis Sylikiotis. In statements he made on Friday after the conclusion of the first meeting, Government Spokesman Stephanos Stephanou said the Troika on Saturday will concentrate on banking issues and the meeting will take place in the presence of the Governor of the Central Bank Governor. Ahead of the talks the Finance Ministry said the discussions at “technocratic and political level, are intended to bring forward the discussions on policy issues”. Other issues to be discussed include structural matters, the macroeconomic framework as well as issues related to Cyprus’s financial sector. Continuing negotiations will be aimed at “achieving convergence,” said the ministry. Moreover, the government hopes to table its 2013 budget on November 20 with the additional austerity measures agreed with the Troika – if not it will go ahead with its own proposed package. Cyprus has the unenviable tag of being the first country to hold the bloc’s six-month rotating presidency while also negotiating EU emergency aid.
Cyprus Weekly