The European Greens (EGP) are in favour of showing solidarity by granting Cyprus a bailout, and at the same time support the measures designed to reduce the overblown Cyprus banking sector, the increase in corporate tax and measures against money laundering.
“The proposals from the Eurogroup are not an intelligent way of handling the problems with Cyprus’s economy, and a far from intelligent way of treating the people of Cyprus,” said EGP Committee member Steve Emmott. “We stand firmly with the Cypriot people and echo the concerns of the Cypriot Green Party: these measures do not guarantee the salvation of Cyprus’s economy.”
“While it is clear that a bailout is necessary to protect Cyprus from eventual bankruptcy, the tax on bank deposits will risk destabilising the complete structure of the Cypriot banking system, and is an aggressive gesture by the Eurogroup to the population of Cyprus. ”
commented Monica Frassoni, EGP co-Chair. “Some sort of tax must be laid on the banking system – even Cypriot president Nicos Anastasiades has acknowledged this. The huge amount of Russian money passing through mean it is bloated and unsustainable. But this one-time tax on legitimate savings is an outrageous attack. Savers in the EU are guaranteed that deposits up to €100,000 are safe regardless how unsafe their bank. The persistence of a wrong approach on the crisis by the majority of EU conservative governments goes on destroying people’s confidence in the EU.”
The European Greens (EGP) are in favour of showing solidarity by granting Cyprus a bailout, and at the same time support the measures designed to reduce the overblown Cyprus banking sector, the increase in corporate tax and measures against money laundering.
“The proposals from the Eurogroup are not an intelligent way of handling the problems with Cyprus’s economy, and a far from intelligent way of treating the people of Cyprus,” said EGP Committee member Steve Emmott. “We stand firmly with the Cypriot people and echo the concerns of the Cypriot Green Party: these measures do not guarantee the salvation of Cyprus’s economy.”
“While it is clear that a bailout is necessary to protect Cyprus from eventual bankruptcy, the tax on bank deposits will risk destabilising the complete structure of the Cypriot banking system, and is an aggressive gesture by the Eurogroup to the population of Cyprus. ” commented Monica Frassoni, EGP co-Chair. “Some sort of tax must be laid on the banking system – even Cypriot president Nicos Anastasiades has acknowledged this. The huge amount of Russian money passing through mean it is bloated and unsustainable. But this one-time tax on legitimate savings is an outrageous attack. Savers in the EU are guaranteed that deposits up to €100,000 are safe regardless how unsafe their bank. The persistence of a wrong approach on the crisis by the majority of EU conservative governments goes on destroying people’s confidence in the EU.”