On Monday in Brussels, a Eurogroup meeting took place, where the results of the bailout programs of countries such as Cyprus and Spain were considered.
After eighteen months closely following the bailout program, Cyprus has shown excellent results. ‘We highly praised the macroeconomic and financial indicators of Cyprus and stressed the need to address the problem of a large number of non-performing loans (NPLs). It is necessary to continue following the reforms, but in general for Cyprus it is a very positive picture’ stated the president of Eurogroup, Jerome Diysselmble.
The Eurogroup also considered the Commission’s assessment of 18 budget plans, according to which there is a risk of non-compliance with the provisions of the Stability and Growth Pact in Belgium, France, Italy, Austria, Portugal and Slovenia, and invited these states to consider the necessary additional measures in a timely manner to address the risks identified by the Commission, and ensuring that their budgets in 2018 are in line with the provisions.