Eurogroup discusses economic situation

Finance Ministers of the 17-member Euro zone met here Monday and discussed the finacial situation of Greece, Cyprus and Spain and generally about the economic situation.  "We talked about the economic situation in the euro area. We took note of the European Commisison's winter (economic) forecast. We are well aware that these are challenging times for almost all Eurozone countries," Jeroen Dijsselbloem, President of the Eurogroup, told a press conference.  He said the Eurogroup welcomed the new Cypriot Finance Minister, Michalis Sarris, and the information he provided on the situation in Cyprus following the presidential elections and on the policy intentions of the new government.  The Eurogroup welcomed the commitmen by the Cypriot government to closely cooperate with Cyprus's European partners towards the earliest possible completion of the loan agreement.  The Eurogroup in a statement noted that last Thursday it released 2.8 billion euros to Greece, after Athens met the conditions for February and said it is prepared to disburse the third tranche again of 2.8 billion in March provided that Greece meets the conditions that are defined for next month.