Cyprus favours a solution to keep Greece in the eurozone, Government Spokesman Nicos Christodoulides has told CNA, stressing that Finance Minister Harris Georgiades supported the Greek government`s position to restructure its debt at the Eurogroup meeting on Saturday.

Cyprus' Presidential Mansion

Cyprus’ Presidential Mansion

He had been asked on Saturday evening by CNA to comment of a Eurogroup decision on Greece.

“The Cypriot government, the President of the Republic at the European Council and the Finance Minister at the Eurogroup meeting argued for the need to find a solution in order for Greece to remain in the eurozone”, Christodoulides told CNA on Saturday night, commenting on the Eurogroups decision on Greece.

The Finance Minister, he said replying to questions, made a special intervention in support of the Greek government`s position to restructuring its debt.

In its decision, Eurogroup said that it “recalls the significant financial transfers and support provided to Greece over the last years. The Eurogroup has been open until the very last moment to further support the Greek people through a continued growth-oriented programme.”

“The Eurogroup takes note of the decision of the Greek government to put forward a proposal to call for a referendum, which is expected to take place on Sunday July 5, which is after the expiration of the programme period. The current financial assistance arrangement with Greece will expire on 30 June 2015, as well as all agreements related to the current Greek programme including the transfer by euro area Member States of SMP and ANFA equivalent profits. The euro area authorities stand ready to do whatever is necessary to ensure financial stability of the euro area.”

Article written by CNA