24 March 2013

President of Eurogroup takes responsibility for joint decision over Cyprus

Jeroen Dijsselbloem, president of the Eurogroup has taken responsibility for a joint decision of all 17 ministers of the Eurogroup to impose a tax on depositors in Cyprus.

The Eurogroup is the group of finance ministers of the 17 states that use the euro. In response to questions in the European Parliament, Dijsselbloem said that the decision to impose the levy on small depositors ‘was not stopped by me because it was a compromise which brought together the different interests and the different goals that we share.’ He stated that ‘As the Eurogroup president, I will take responsibility’, but added that the levy was ‘a joint decision.’

Source: The New York Times | Negotiator New to the Game Takes Blame for Cyprus Failure