NICOSIA- Cyprus has welcomed the outcome of a Eurogroup meeting which decided to support Greece to enable the country to return as soon as possible to viability and development.

A statement, issued by the Cypriot delegation to Eurogroup headed by the Permanent Secretary of the Ministry of Finance Christos Patsalides, said the meeting welcomed the measures to be adopted by the Greek government, which will be the basis for the next support programme.

The new programme will provide guidance for the viability of Greece’s public finances and the framework for the financial stability of the entire Eurozone.

During the meeting, it was agreed to provide Greece with 130 billion euro by 2014 through the European Mechanism of Financial Stability. It also examined a plan to involve the private sector, which provides for the devaluation of Greek bonds owned by individuals by 53,5%.