Press Releases

The President of the Republic, Mr. Nicos Anastasiades, today received at the Presidential Palace representatives of the financial Institutions in the presence of the Minister of Finance, Mr. Constantinos Petrides.

Speaking to the press after the meeting, Mr. Petrides said that “a very constructive discussion took place”, during the meeting.

“We move on to stage 2”, he said, “which is the stage of recovery, with the Government and the banking sector contributing the means at their disposal towards this end. The psychological mood of the market is also changing, which is very important.

The Government schemes will be used with fast track procedures by the banking sector. The measure of rent subsidy is a very important one both for the business community and the new couples wanting to contract loans. It is a very significant help and what we said today is that, yes, passing to this 2^nd stage as the psychological mood of the people is changing, the banks on their part will explain the fast track procedures and do what they must, so that all of us will support the economy.  And we have every right to be truly optimistic that we will succeed in emerging victorious from this crisis as well.”

Responding to questions he said that “the first signs after the partial easing of restrictions are very positive for the market and the labour market too, and we have every right to be optimistic. Of course we will be able to know more in the coming period of time but it seems that the Government measures have had a catalytic effect.

The development which we enjoyed in the last years has given the economy, including the private economy, the strength needed for us to cope successfully.

There are problems, of course, since our schemes at this point are much more targeted, yet we are convinced that we shall win this uncertain battle, all of us together, the private sector, the state, the Government, the parties. And this is the positive message we must give as of now that we are passing to the recovery stage.”

Asked if the parties have been convinced after his presence in the House yesterday, the Minister said that “I consider that it was a very constructive discussion. We shall table a supplementary budget in the coming days.  We always listen to the concerns and the proposals of the parties and I believe that we will press ahead as one.”

( DC )