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Berlin urges Cyprus to pursue bailout talks
Photo: DPA

Berlin urges Cyprus to pursue bailout talks

Published: 25 Feb 2013 10:20 GMT+01:00
Updated: 25 Feb 2013 10:20 GMT+01:00

France and Germany on Monday urged the new government in Cyprus to negotiate a bailout quickly and welcomed the election of Nicos Anastasiades as the president of the financially crippled EU state.

The leader of the right-wing Disy party won 57.5 percent of the vote in a second round run-off against communist-backed Stavros Malas, who polled 42.5 percent, to replace the only communist president in the European Union.

"We welcome the result of the Cypriot elections on 24th February, which will allow for the formation of a government that will quickly continue with the negotiations about a financial assistance programme for Cyprus," the French and German finance ministers Pierre Moscovici and Wolfgang Schäuble said.

Disy said Anastasiades had been given "a clear and strong mandate to battle for Cyprus," in talks with Brussels on the terms of an estimated €17 billion bailout package, with much of the damage caused by its Greek-exposed banking sector.

The election was closely watched in the other 16 members of the Eurozone, whose finance ministers had deferred a decision on the proposed bailout until negotiations take place with the new leader.

AFP/mb

The Local (news@thelocal.de)

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Your comments about this article

15:02 February 25, 2013 by adam.müller
why Cyprus, with GDP of only $23.728 billion is part of EU but Turkey with booming Economy of $1.288 Trillion is not?
17:12 February 25, 2013 by Berlin fuer alles
@Adam. It has more to do with Human rights issues and compliance with EU standards than the size of the economy. Turkey fails on a lot of points and has too many current EU members who do not want them. Germany has not established a dictatorship over the rest of the EU just yet.
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