articles | 11 March 2013

Juncker: Cyprus should be treated with care and decision must be taken soon

Former Eurogroup president Jean-Claude Juncker says Cyprus’ financial problems should be addressed with the same care demonstrated in the case of Greece, Ireland and Portugal.

Former Eurogroup president and Prime Minister of Luxembourg Jean-Claude Juncker considers the case of Cyprus as a systemic one and expressed the view that a decision on Cyprus must be takensoon.

In an interview with the international press agency Agence Europe, published in Brussels, former Eurogroup president noted that “if a country like Cyprus, as small as it is, faces unresolved problems, then these problems should be addressed with the same care the Greek, Irish and Portuguese problems were addressed”.

He added that if a member of the eurozone has problems similar to those faced by Cyprus with regard to their type, nature and scale, then it should be considered as a systemic case. Juncker said that undoubtedly the Greek haircut did not have a positive impact on Cyprus, pointing out that everyone should remember this. “It would be better if we had not fallen into this solution with open arms and eyes closed,” he said.

Source: Cyprus Mail


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