The prospect of the European Central Bank’s 1-trillion euro ($1.1 trillion) bond-buying program has cheered global markets, but the finance minister of Cyprus told CNBC it must not stop efforts to reform.
Harris Georgiades, Cyprus’ finance minister, said that while he was a strong supporter of the forthcoming quantitative easing (QE) program, reforms could not be put on the back-burner. ECB President Mario Draghi revealed on Thursday that the controversial program would start on March 9.
“I’m a strong supporter of this new policy of the ECB and I do believe it will help the euro zone as a whole and, of course, Cyprus, and the benefits will be multi-dimensional,” Georgiades told CNBC Wednesday.
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