The integration of the EU banking union and the association of capital markets were the two main issues on the agenda of the EU's 28 Finance Ministers meeting held in Sofia, Bulgaria, Finance Minister Haris Gerogiades has said, stressing the need to accelerate the pace on both these directions.
Georgiades on the sidelines of the meeting that "the completion of the banking union involves pressure, difficulties and is demanding, especially for a country such as Cyprus where the banking system is still burdened by the mistakes and omissions of the past. "We believe that with the completion of the banking union, a confidence-building environment will be created also for Cyprus and that is precisely why we are working in this direction and we are fully aligned with the joint effort to complete the European banking union," the Minister said.
Source: CNA