Outcome of the European Council meeting of 14-15 March 2013: - extracts from the report by Herman VAN ROMPUY, President of the European Council EPRef92831 // European Parliament , Brussels, room JAN 2Q2 - 15.00-16.30 // LINK

Type: News   Reference: 92831   Duration: 00:03:31  Lieu: European Parliament, Brussels
End production: 20/03/2013   First transmission: 20/03/2013
- extracts from the report by Herman VAN ROMPUY, President of the European Council

Only the original language version is authentic and it prevails in the event of its differing from the translated versions.
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TIME DESCRIPTION DURATION
00:00:00 Title 00:00:05
00:00:05 Exterior view of the European Parliament Brussels 00:00:05
00:00:10 Cutaways in the Chamber ( 3 shots) 00:00:15
00:00:25 SOUNDBITE (English) by Herman VAN ROMPUY, President of the European Council," Countries that need to bring deficits down must persevere but making their own choices, choices on balance between on raising taxes and cutting expenditures. 00:00:12
00:00:37 SOUNDBITE (English) by Herman VAN ROMPUY, President of the European Council, "it is also true for the situation in Cyprus. We are all very concerned and we are following development closely. We had asked the Eurozone finance ministers to agree with the Cyprus government on the modalities of support. The main purpose is to ensure the long term sustainability of the financial sector in Cyprus and to avoid that bank liabilities translate into excessive public liabilities." 00:00:28
00:01:05 SOUNDBITE (English) by Herman VAN ROMPUY, President of the European Council, "he Eurozone is ready to support Cyprus with 10 billion Euro loans which are guaranteed by Eurozone Member states , which represent , those 10 billion , more than half of Cyprus GDP." 00:00:15
00:01:20 SOUNDBITE (English) by Herman VAN ROMPUY, President of the European Council, " I take note of the vote of the Cypriot Parliament rejecting the agreement unanimously reached in the Eurogroup on March the 15th. The current highly uncertain situation is damaging especially for the people of Cyprus and has to be addressed as soon as possible." 00:00:20
00:01:40 SOUNDBITE (English) by Maros SEFCOVIC Vice President of the European Commission ," Regarding the one of levy on deposits over 100000 euro, the Commission made it clear in the Euro group before the vote in the Cypriot Parliament that an alternative solution respecting financial parameters would be acceptable preferably without a levy on deposits below 100000 Euro. The Cypriot did not accept such an alternative scenario and the Cypriot Parliament rejected the agreement. 00:00:30
00:02:10 SOUNDBITE (English) by Maros SEFCOVIC Vice President of the European Commission ," The Commission has done its utmost to assist Cyprus and work for a constructive and managed a solution .However decisions are taken by Member states and no decision can be taken without the cooperation including Cyprus itself. The Commission continues to stand ready to facilitate solution and is continuing contacts with Cyprus and other Members states and the euro group and the EU Institutions and the IMF 00:00:27
00:02:37 SOUNDBITE (English) by Maros SEFCOVIC Vice President of the European Commission ,"Some of you called for a full debate on Cyprus. We in the Commission are ready for it. But I suggest that Chairs of Eurogroup and IMF be invited as well. We can neither speak on behalf of them nor want to be criticized on their behalf. Now the Commission President and Vice president Mr Barroso and Rhen are working hard in order to find a solution. Our experts are in the country, They are on the ground. They continue to believe that a solution could be found but we need a full cooperation from the side of the Cypriot authorities. The alternative to this situation is bankruptcy of the country and financial losses to c Cypriot citizens? We want to avoid it and we want to contribute to the solution and I hope that the EP can support in this effort 00:00:54
00:03:31 END 00:00:00
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