Dijsselbloem: I cannot be sure for deposits over 100.000 euros

The interview that Eurogroup chairman Jeroen Dijsselbloem gave to the Irish Times has Ireland, Cyprus and bank deposits as its main themes.

Having expressed his optimism for Ireland, but unable to determine the time of the country’s return to the markets, Dijsselbloem spoke extensively about Cyprus.

"We need to think about different ways of dealing with the banking crisis in the future. In times after a crisis new mechanisms are needed to handle such problems. We are working on them."

He said that Olli Rehn, European Commissioner for Economic Affairs, also talked about the “bail in” system, saying he is thinking of the correct ways in which it can be implemented.

Regarding the deposits in Cyprus he said he cannot predict what will happen in the future, but assured that the deposits below 100,000 euros are safe.

"We must do everything to ensure stability in the banks," he added. He expressed his optimism about the economic recovery in the eurozone countries towards the end of the year. "Many countries are moving to structural reforms that will lead to stronger infrastructure, stronger labor market and more competitive industry. All these reforms are not easy, but in the end the countries will be more competitive."