European Council President Herman Van Rompuy on Friday apprised Cypriot President Demetris Christofias of the tasks ahead for Cyprus' six-month rotating Presidency of the Council.
Cyprus assumed the six-month rotating Presidency of the European Council at a ceremony held in capital Nicosia on Thursday.
A day later, the two leaders discussed the follow up to the recently concluded European Council summit and the outlook for the Cyprus Presidency.
The head of the European Union's executive branch reminded the Cyprus leadership that decisions taken in the last European Council will have an important impact on the Cyprus Presidency. "The Compact for Growth and Jobs needs to be implemented quickly, and legislative proposals which it mentions, e.g. the outstanding elements of the Single Market Act or the second Single Market Act to be proposed in the autumn, will require priority treatment during your Presidency," Christofias was told.
Rompuy told Christofias of the need to "cooperate very closely and harmoniously" to reach an agreement by the year-end on another important element of the Compact - the EU's future Multiannual Financial Framework for 2014-2020.
In a statement issued after their meeting, Rompuy said Bilateral meetings with the Member-States headed by the Cyprus Presidency would start in the coming days.
The two leaders also discussed Cyprus' request for assistance from the EFSF/ESM, which the Eurogroup accepted. The European Council chief said the Troika - the European Commission, the Eurogroup and the European Central Bank -- is assessing the situation. It will be the basis for further decisions.
He welcomed Cyprus government's commitment to engage with determination in policy actions to ensure a return to stable and sustainable economic growth and a solid financial sector.
He underlined that "the Cyprus Presidency of the Council enjoys full support in Brussels and in the EU." Rompuy expressed the hope "that all countries in the region contribute to a serene atmosphere over the next six months." He called for "restraint, time to cooperate and engage."
The European Council summit held on June 28-29 was about combining short term measures to stabilize the markets, medium-term action to stimulate growth, together with a longer-term vision on the way forward to strengthen the EU's Economic and Monetary Union.
Establishing a longer-term perspective for the euro area is also a pressing priority. The Eurozone leaders have asked the Council to work in a very speedy way in setting up a single supervisory mechanism for banks involving the ECB.
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