President of the Republic of Cyprus, HE Nicos Anastasiades, visits the ECB

Today, the President of the Republic of Cyprus, HE Nicos Anastasiades, met with Mr Mario Draghi, President of the European Central Bank (ECB). President Anastasiades was accompanied by Mr Harris Georgiades, the Minister of Fìnance, and Mr Panicos O. Demetriades, the Governor of the Central Bank of Cyprus. Mr Jörg Asmussen and Mr Benoît Cœuré, Members of the ECB’s Executive Board, also participated in the meeting.

The meeting consisted of an exchange of views on the ongoing implementation of the macroeconomic adjustment programme for Cyprus.

Both parties agreed that one priority in the period ahead is to bring Bank of Cyprus out of resolution. An asset valuation is expected to be completed in the second half of July, and discussions will continue when these results become available.