'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.