Look Who it Was Random video

Eurogroup chief to EP: 'I am no king...one Dutch king is plenty'

1,381 views · Published 8 May 2013 · 2:23 · Indexed 22 September 2026

Channel: Euractiv · 2013 · News & Politics

Watch on YouTube

Eurogroup president Jeroen Dijsselbloem faced a grilling in the European Parliament on Tuesday over the recent Cyprus bailout deal. 
Addressing MEPs, Dijsselbloem refused to give away details of the discussions that led eurozone ministers to include a tax on all bank depositors in Cyprus. 
The original proposal sparked widespread anger and was later rejected by the parliament in Nicosia. 
'What I simply can not do is going to question what different ministers in the Eurogroup said or have done whether they were for or against any proposals etc; I am very sorry that you find that unacceptable but I simply can't go into that.'.

'I am no king. We have just installed a new king in the Netherlands, and that's ... one Dutch king is plenty', said Eurogroup's president Jeroen Dijsselbloem

But MEPs said that the European Parliament is entitled to know more about the negotiations. 
'We as a Parliament have the right to know more from you , how it came to this wrong decision? And we asked this in writing and I would like to know whether you will respond in writing precisely why this process did not deliver? and we have the right to kow , the citizens of Europe have the right to know and it is too cheap simply to say, I will not answer, and I am the king of the Eurogroup and I take all the responsibility', said German Green MEP Sven Giegold. 
'I'm wondering whether if you and your colleagues are aware of the fiasco and the way the problem (Cyprus) was dealt with ?.', said French EPP MEP Jean Paul Gauzes.

Dijsselbloem defended the current bailout deal as 'the best possible' solution for Cyprus and 'a good deal' for the EU.
Under the new terms, only deposits over €100,000 will be taxed to fund the 10 billion euro bailout.
'The macro economic adjustment programme provides Cyprus an opportunity to get its economy back on track, which is not going to be easy, I fully realise that and I also believe that the momentum should not be lost in improving our oversight and resolution mechanism to effectively and efficiently nip potential systemic threats.', said Eurogroup's president Jeroen Dijsselbloem.

The hearing will continue on Wednesday when the ECB, the IMF and the European Commission will be questioned.

More from this channel