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Posted on: March 19th, 2013 by AlYunaniya Staff No Comments

Greek PM: We shall emerge stronger and more united from the crisis

Samaras with media

photo: ND flickr

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“Greece has been and is standing by Cyprus at this tough time,” Prime Minister Antonis Samarassaid yesterday, in a statement on the latest developments in Cyprus.

He added: “Greece is also experiencing a tough time over the past three years. But you must remember: Prosperity and growth will return soon. In both Cyprus and Greece.”

Samaras said “the ability of Hellenism to withstand difficulties and achieve progress has been proved many times. It will be proven again. Provided that we do not lose faith in ourselves and stand on our feet. We shall emerge stronger and more united from the crisis.”

Meanwhile, Finance Minister Yannis Stournaras offered full reassurances that deposits in Cypriot banks’ branches in Greece were not at risk and said that a plan was examined to transfer all assets by Cypriot banks operating in Greece to an existing Greek financial institution, AMNA reports.

Speaking to reporters, after a meeting of the Council of Systemic Stability on Saturday evening, Stournaras said the council unanimously agreed on the plan along with a mandate to the Bank of Greece to examine the interest of Greek commercial banks on the plan.

Stournaras said: “The Council of Systemic Stability convened to discuss a decision reached by the Eurogroup over a political agreement between Eurozone finance ministers and Cyprus authorities over developments in the Cypriot banking system. The agreement fully safeguards depositors in Cypriot banks operating in Greece, safeguards Greek state interest and financial stability and does not burden the management of Greek public debt.

In the framework of the agreement, the Council unanimously recommends the transfer of all Cypriot banks’ assets in Greece [Cyprus Bank, Laiki Bank and Hellenic Bank] to an existing Greek financial institution.

The Bank of Greece will examine the interest of Greek banks in buying these assets”


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