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Support Group for Cyprus

The mission of the Support Group for Cyprus (SGCY) is to help alleviate the social consequences of the economic crisis in Cyprus. 

Mission statement

By mobilising EU funds and technical expertise, the SGCY supports the Cypriot authorities’ efforts to restore financial, economic and social stability and to implement the Memorandum of Understanding on Specific Economic Policy Conditionality ("the MoU"). In this way, the SGCY is helping Cyprus to establish solid foundations for a return of the economy to robust competitiveness, growth and job creation.

This way, Cyprus is laying solid foundations for a return of the economy to robust competitiveness, growth and job creation.

Contact

Mary McCarthy – Head of the Support Group
E-mail: ECFIN-SGCY@ec.europa.eu

Simon O´Connor - Press contact
Tel: +32 (0) 2 29 67359

SGCY Activity Reports

Press material

Core objectives

The SGCY's core operational objectives are to:

  • help to finance and implement the reform agenda established by the MoU in various areas, including public finance management and the housing market;
  • help the Cypriot authorities to determine how technical assistance can support major structural reforms in areas such as public health and social welfare;
  • efficiently organise the matching of demand for and supply of technical assistance;
  • facilitate interaction between Commission services and Cypriot authorities in specific instances;
  • and facilitate the emergence of new sources of economic activity in Cyprus.

In pursuing our objectives, we act under the responsibility and general coordination of the Commissioner for Economic and Monetary Affairs and the College of Commissioners and draw on contributions from all relevant Commission services, EU Member States and international organisations.

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