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16 Apr 2013
European Commission intends to advance Cyprus structural payments
FXstreet.com (Barcelona) - Recently in a letter to Cypriot President Nicos Anastasiades, President of the European Commission Barroso has extended monetary assistance in advancing the future of the EU budget to Cyprus.
In particular, the European Commission – through the letter to Barroso – has proposed an advance payment of the proposed budget for Cyprus for 2014-2020 in effect aiming to ease the island's economy.
Barroso also offered more competitive rates than before the turmoil, and could increase the amount of funds provided to the island over the next seven years, which are now estimated at 945 million euros.
In particular, the European Commission – through the letter to Barroso – has proposed an advance payment of the proposed budget for Cyprus for 2014-2020 in effect aiming to ease the island's economy.
Barroso also offered more competitive rates than before the turmoil, and could increase the amount of funds provided to the island over the next seven years, which are now estimated at 945 million euros.