articles | 18 October 2019 | ServPRO Accountants & Consultants

Cyprus-Greece: economy cooperation mechanism

According to Cyprus’s Minister of Finance Haris Georgiades, Cyprus and Greece are currently working towards creating an economy cooperation and coordination mechanism on matters concerning both their economies and European Union’s agenda.

After talks in Nicosia with the Greek Minister of Finance Christos Staikouras, Haris Georgiades noted that: “The economic policies of the two countries are significantly similar with one another.”

Georgiades further added that: “We share common goals as well as challenges, we have discussed and we have agreed on setting up a mechanism of cooperation and coordination, on the European agenda as well, at a technocratic and political level.”

The Greek Minister of Finance Christos Staikouras said that Cyprus has set a positive example for a speedy exit from the financial crisis. “Under the guidance of Haris Georgiades, Cyprus has set a positive example for a speedy exit from the financial crisis, through the successful implementation of an appropriate mixture of policies within a stable political environment,” Staikouras said.

He further added that, as of July 7th 2019, Greece has returned to political stability with the new right-wing government implementing a reform agenda to achieve economic growth and sustainable public finances, as well as create new jobs and take Greece back to investment grade.

During his speech at the European University in Nicosia, Staikouras also said that non-performing loans are the biggest challenge both for Cyprus and Greece.

Cooperation Partners
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