Extracts from the EC Midday press briefing by Olivier Bailly, Coordination Spokesperson, on Cyprus
Type: Midday briefing - summary
Brussels - EC/Berlaymont
Only the original language version is authentic and it prevails in the event of its differing from the translated versions.
||Exterior views of the Berlaymont building (2 shots)
||General view of the press conference
||Soundbite by Olivier Bailly, Head of the Unit "Growth and Jobs" and Coordinating Spokesperson (in ENGLISH) on the situation in Cyprus: While this programme (agreed at last Eurogroup) did not in all its elements correspond to the (European) Commission's proposal and preferences, the Commission felt the duty to support it, since the alternatives put forward were both more risky and less supportive to Cyprus's economy. This programme was not accepted yesterday by the Cypriot Parliament. It is now for the Cypriot authorities to present an alternative scenario, respecting the debt sustainability criteria and corresponding financing parameters. The Commission has done its utmost to assist Cyprus and to work for a constructive and managed solution. However decisions are taken by the Member States and no decision can be taken without their cooperation, including Cyprus itself. The Commission continues to stand ready to facilitate solutions and is continuing contacts with Cyprus, the other Member States in the Eurogroup, the EU institutions and the IMF. Regarding the one-off levy on deposits below €100.000, the Commission made clear in the Eurogroup, before the vote in the Cypriot Parliament, that an alternative solution respecting the financing parameters would be acceptable, preferably without a levy on deposits below €100.000. The Cypriot authorities did not accept such an alternative scenario.
||Cutaway of the audience
||Soundbite by Olivier Bailly (in ENGLISH) on the EC visit to Moscow: The (EC) Vice-President Rehn will stay in Brussels. He will focus on the situation in Cyprus. This is our priority. If our Russian partner wants to raise the question of Cyprus, which is not on the official agenda (of the meeting), it will be taken by the President (Barroso) in his meeting with President Putin and Prime Minister Medvedev.
||Cutaway of press
||Soundbite by Olivier Bailly (in ENGLISH): No one is to blame. There was a unanimous agreement on the night between Friday and Saturday. Everyone made efforts to contribute to the solution. Unfortunately this compromise could not meet a political majority in the Cypriot parliament. Now everyone needs to remain as constructive as possible to continue finding the solution. We need a collective solution because, once we will have alternative scenario or options from Cyprus, we will need to come back to the Eurogroup and get the agreement of the Eurogroup. No one is to blame. Everyone has to remain positive and work for a collective solution for Cyprus.
||Cutaway of the audience