Hannes Swoboda: „We have to end the neo-colonial behaviour of the Council and the Troika in Cyprus“

Speaking today in the European Parliament’s plenary in Strasbourg on the situation of Cyprus, S&D Group president Hannes Swoboda said:

„The Commission made a big mistake by agreeing to raise a levy on deposits below €100,000 to pay for the rescue plan. This destroyed the trust and confidence of the people.

„We have to change Europe’s policies and structures, and the Commission has to take responsibility. The undemocratic Troikas should not be in charge but rather the Commission – and especially Commissioner Olli Rehn.“

Swoboda continued by calling for democratic involvement from the EU institutions and the establishment of a parliamentary subcommittee on the eurozone: „We no longer need the International Monetary Fund. What we need is strong involvement from democratically elected institutions in the future of the eurozone. We are calling for a subcommittee in the European Parliament to deal with eurozone issues. It is time for a real dialogue between the Council, the Commission and the Parliament.

He concluded by calling for the completion of the banking union and for investment in Cyprus: „The problems do not only relate to Cyprus. We are facing European problems here. The completion of the banking union must be one of our key priorities.

„Cyprus has potential and we need to help them to get back on track for growth. It is time for alternative economies and oil and gas resources should be exploited.

„We are here to help the Cypriot people and not to dominate.“