Cyprus President: Our economy is doing well

We should not cause panic to the Cyprus market about our economy, he added.

President Christofias has claimed that Cyprus economy is doing well, saying that if it is deemed necessary to apply to the EU support mechanism, it will be done because of the banking sector.

Christofias said that the Government is trying to avoid applying to the support mechanism, adding if required, this will be officially announced and substantiated.

We should not cause panic to the Cyprus market about our economy, he added.

He added that "our economy is doing well, and our efforts to tackle the fiscal deficit and public debt are also going well and we have positive results"

"Unfortunately we have the problem with the banks, or rather with one of the banks which we are trying to address in a number of ways", he pointed out.

He called on the opposition to tone down its criticism for "unity on the home front".

Commenting on remarks by the opposition about taking measures for the economy without any prior briefing, President Christofias explained that the Cabinet had not yet taken any decision and assured that both the parties and unions will be briefed and take part in the dialogue about economic measures.

We are preparing measures, this is true, and we will have a dialogue", he added.

He also expressed the view that the country needs tranquility as well as unity of actions and goals.

Asked about efforts to secure a loan from Russia, he said "we will let you know the results soon, either positive or negative, we do not know yet." ??Copyright Famagusta Gazette 2012 All comments are now moderated

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