21/03/2013 13:01
Eurogroup chairman Jeroen Dijsselbloem said on Thursday the problems in Cyprus pose a systemic risk to the euro zone.
According to Reuters, Dijsselbloem, who chairs the Eurogroup of euro zone finance ministers, told the European Parliament he hoped Cyprus could find solution that is financially and economically sound, and politically feasible, to help it out of its difficulties.
“I still think its probably inevitable there will be some kind of levy in the final package that we will agree upon”, he said.
"The Eurogroup thinks it's very important that we should have a fair burden share, and that means a larger contribution from large depositors than, of course, from small depositors."
“I think that in the present situation, and the current worries about the stability of the euro zone, we simply have to stand for the integrity of the euro zone”, he said in relation to the systemic risk.
"Therefore any debate on is it a systemic risk, should be do anything, I think we should immediately move beyond that and say what are we going do about it.
"That's how I like to approach a problem. So in the present situation I think there is definitely a systemic risk and I think the unrest of the last couple of days has proven this, unfortunately."
"...The situation in Cyprus was very, very specific and very, very problematic in the financial sector so that, no, there would not be the same kind of package and approach to any other country”, he stressed.
According to Reuters, Dijsselbloem, who chairs the Eurogroup of euro zone finance ministers, told the European Parliament he hoped Cyprus could find solution that is financially and economically sound, and politically feasible, to help it out of its difficulties.
“I still think its probably inevitable there will be some kind of levy in the final package that we will agree upon”, he said.
"The Eurogroup thinks it's very important that we should have a fair burden share, and that means a larger contribution from large depositors than, of course, from small depositors."
“I think that in the present situation, and the current worries about the stability of the euro zone, we simply have to stand for the integrity of the euro zone”, he said in relation to the systemic risk.
"Therefore any debate on is it a systemic risk, should be do anything, I think we should immediately move beyond that and say what are we going do about it.
"That's how I like to approach a problem. So in the present situation I think there is definitely a systemic risk and I think the unrest of the last couple of days has proven this, unfortunately."
"...The situation in Cyprus was very, very specific and very, very problematic in the financial sector so that, no, there would not be the same kind of package and approach to any other country”, he stressed.
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