Media playback is unsupported on your device

'We are fixing the economy' says Cyprus Finance Minister

23 January 2014 Last updated at 09:06 GMT

The Cyprus Finance Minister, Harris Georgiades, has admitted that the problems of the Cypriot public finances and the banking system, were a result of the government's own shortcomings and failures to act in a timely manner.

"Acknowledging the problems were ours, enabled us to take control of the situation," he told HARDtalk. "We are able to explain to the public that we are fixing those problems," he added.

In March 2013, Cyprus agreed to a 10bn euro (£8bn, $13.5bn) bailout with the International Monetary Fund (IMF) and the European Union in an attempt to prevent the collapse of its banking sector and the wider economy.

You can watch the full interview on BBC World News on Thursday 23 January at 09:30, 14:30 and 20:30 GMT and on the BBC News Channel at 04:30 GMT and at 00:30 on Friday 24 January.

Watch more clips at HARDtalk's website

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.