Brussels, 14/02/2012 (Agence Europe) - On Thursday 14 February, the European Commission highlighted the Eurogroup conclusions in reaction to the refusal by the Cypriot government on Wednesday to accept a new audit by a private company of measures to clamp down on money-laundering in the country (see EUROPE 10784).
The eurozone countries agreed on Monday that a new independent auditor was required to settle the money-laundering debate. A spokesman for the Cypriot government, Stefanos Stefanou, said Nicosia was a victim of the eurozone's decision to write down Greece's debt and the Cypriot government had constantly demonstrated its determination to implement the terms of the agreement. The Cypriot government cannot understand the eurozone's attitude of putting more confidence in a private company than in Moneyval, the Council of Europe's group of experts. The eurozone says that the second audit is needed to be able to move quickly and reach agreement in March on a financial bailout, saying that the second audit is a precondition for financial aid.
Brushing aside rumours about losses that savers with Cypriot banks might have to face, Stefanos said that their savings were in good hands. (EL/transl.fl)