Cyprus News Agency: News in English (PM), 99-07-22

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From: The Cyprus News Agency at <http://www.cyna.org.cy>

CONTENTS

[01] AKEL leader - Kidney transplant

[02] Cyprus - Turkish provocation

[03] Central Bank - Bank foreign ownership limit

[04] Cyprus Central Bank - Economic survey

[05] "Europe at School" - Prize giving ceremony

[06] US - Cyprus problem

[07] House President - Italian officials

[08] New York - Proclamation - "Justice for Cyprus Day"

1715:CYPPRESS:01

[01] AKEL leader - Kidney transplant

Christofias today called on President Glafcos Clerides who asked to see him prior to his departure on July 31.

He publicly thanked the President "for his interest and all he has done for my health".

The AKEL Secretary-General said that on August 2 he will begin preliminary examinations and he expects to return to Cyprus at the end of the month.

Christofias has been facing health problems since December 1998, when he suffered from pneumonia and kidney failure.

In March he underwent open heart surgery at Saint Mary's Hospital in London.

CNA RG/MA/MCH/1999

ENDS, CYPRUS NEWS AGENCY

1715:CYPPRESS:02

[02] Cyprus - Turkish provocation

Government Spokesman Costas Serezis said this unacceptable incident "took place at a time when a better climate between Greece and Turkey is beginning to be created, at a Greek initiative".

Greek officials also condemned this new Turkish provocation but assured that it will not affect the improvement of relations between the two countries.

Mandelis was in Cyprus to represent the Greek government in events to condemn the Turkish invasion and occupation of Cyprus in 1974.

CNA EC/MA/MCH/1999

ENDS, CYPRUS NEWS AGENCY

1005:CYPPRESS:03

[03] Central Bank - Bank foreign ownership limit

Bank of Cyprus chairman Solon Triantafylides told a press conference today that following this outcome the Bank is free to trade its shares in the Athens Stock Exchange and said the final decision will be taken at an extraordinary meeting to be held in the second fortnight of September.

For a bank to list its shares in the Athens Stock Exchange exchange restrictions in the country in which it is registered should not be over 50 per cent of its shares.

Triantafylides described the decision as "a milestone for the Bank" and said it "opens the road for the liberalisation of exchanges".

The Group chairman said shares worth 100 million Cyprus pounds (one pound is about two US dollars) will be issued in Athens and added this development would enable it to expand its operations in Greece.

He assured that Cypriots will remain the main shareholders in the Bank of Cyprus Group.

An official announcement said the Central Bank decision taken today applies to all local banks.

Until today the Central Bank restricted the foreign ownership limit to 15 per cent.

CNA FZ/MA/MCH/1999

ENDS, CYPRUS NEWS AGENCY

1910:CYPPRESS:04

[04] Cyprus Central Bank - Economic survey

According to the survey the major positive characteristics of the Cyprus economy in 1998 was a strong growth performance associated with declining inflation and low unemployment.

On the downside was the deficit on the public sector operations and the current account of the balance of payments widened further, thus making more imperative the need for urgent corrective measures, it adds.

In real terms the Gross Domestic Product (GDP) rose to a 5,0 per cent last year compared to a 2,5 per cent growth rate recorded in 1997. The real GDP growth in 1999 is envisaged to reach about 4,0 per cent.

According to the survey, the substantial pick-up in economic activity put a halt on the rising trend of unemployment observed in the previous two years.

In 1998 unemployment fell to 3,3 per cent, from 3,4 it was in 1997, comparing favourably with the European Union average, while a marginal decline to about 3,2 per cent is expected this year.

The Central Bank survey notes that prospects in 1999 for the tourist industry, which is dominant in the Republic's economy, are very encouraging with arrivals expected to grow by about 7,1 per cent.

Export of goods are also expected to recover in 1999, while inflation is expected to remain in the range of around 2,0 per cent.

In the external sector, the deficit on the current account is expected to decline reflecting an anticipated improvement in both trade and the invisibles accounts, the Central Bank adds.

In the reference to public sector operations, it notes that in the absence of any corrective measures they are expected to result in an enlarged deficit of the order of 6,5 per cent of the GDP.

It says this is connected with the continued excessive growth of government expenditure associated with high defence expenditure and increased transfers and interest outlays on the government debt.

Noting that the fiscal deficit has been rising at a fast range since 1996, it warns that if this imbalance is not addressed soon both the internal and external stability will be endangered.

The Central Banks says that with Cyprus European Union accession negotiations, which opened last year, being at a critical stage, diverging from the fiscal criteria will prove detrimental.

It adds that a fiscal consolidation package is currently under preparation and will be tabled before the House of Representatives very soon.

This package should be adopted as soon as possible in order to improve public finances and relieve pressures on the balance of payments.

CNA FZ/MA/MCH/1999

ENDS, CYPRUS NEWS AGENCY

1925:CYPPRESS:05

[05] "Europe at School" - Prize giving ceremony

They are attending a European youth gathering which is run by the Coordinating Unit of "Europe at School" with support by the European Youth Foundation of the Council of Europe.

For nine days the young people are living and working together at the European Youth Centre in Strasbourg under the motto 'Equal rights for all - Face to face with a multicultural society".

The prize-giving ceremony was held at the Palais de l'Europe in Strasbourg.

The 32 are representative of 600 prizewinners chosen to participate in European youth gatherings all over Europe.

Every year, through artistic creations or written works pupils set out to play an active part on the construction of a democratic Europe by tackling topical issues and themes associated with European unification.

In so doing they help to develop awareness of Europe in schools and to enhance the European dimension in education.

The activities are organised by national committees in 32 European countries, including Cyprus.

The follow-up of the competition consists of a series o youth gatherings organised in 12 different European countries, attended by 600 prizewinners coming from all countries involved in "Europe at School".

The "Europe at School" activities are organised under the joint patronage of the Council of Europe, the European Commission, the European Parliament and the European Cultural Foundation.

CNA MK/MCH/1999

ENDS, CYPRUS NEWS AGENCY

1935:CYPPRESS:06

[06] US - Cyprus problem

Talbott was speaking yesterday at the officiating ceremony for the new US Ambassador to Cyprus Donald Bandler, who said American diplomatic efforts aim at the start of substantive negotiations for a settlement, without preconditions.

The ceremony took place at the State Department. Bandler will be replacing Kenneth Brill, who is expected to leave Cyprus soon.

Talbott said the US maintain excellent relations with Cyprus, while referring to the Cyprus problem he described it as complex.

The new US Ambassador to Cyprus referred to American efforts to build trust and understanding between the island's two communities and underlined their importance in order to overcome the consequences of decades of division.

Bandler described these efforts as complimentary to US diplomacy for substantial negotiations to resume.

He added that the clear aim is to find a just and permanent settlement which will end the divide on the island and pledged to cooperate closely with the leaders in Cyprus.

Bandler said he will come to Cyprus keeping his eyes open, noting that it is clear that a settlement is no easy task.

However, he pointed out that the Cyprus problem could be solved bearing in mind that major progress has been achieved in the settlement of the problems in South Africa and the Middle East as well as the reunification of Germany.

The Ambassador, who is expected to arrive here to take up his duties in mid-August, said the US and Cyprus cooperate closely in enforcing the law aiming at combating terrorism, money laundering and drug trafficking and efforts to increase this cooperation will be undertaken.

The Cyprus peace process has stalled due to a demand by the Turkish side for the establishment of a confederation of two states, contrary to UN resolutions stipulating for the establishment of a bizonal, bicommunal federation.

CNA MA/MCH/1999

ENDS, CYPRUS NEWS AGENCY

2010:CYPPRESS:07

[07] House President - Italian officials

They also backed Cyprus' bid to join the European Union (EU) and underlined that Turkey should not be rewarded for its intransigence in the Cyprus peace effort.

Kyprianou, on an official visit to Rome, met today with President of the Italian Parliament Luciano Violante, Senate President Nicola Mancino, President of the Parliament Foreign Affairs Committee Achille Occhetto and Under-Secretary for European Affairs Umberto Ranieri.

Violante accepted an invitation from his Cypriot counterpart to visit the island in autumn.

According to an official announcement, Kyprianou briefed the Italian officials on the latest developments in the Cyprus question and the Turkish side's intransigence.

Turkish Cypriot leader Rauf Denktash, backed by Ankara, has been refusing to participate in peace talks unless they aim at establishing a confederation of two states in Cyprus, contrary to UN resolutions stipulating for a bizonal, bicommunal federation.

Cyprus has been divided since Turkish troops invaded and occupied 37 per cent of its territory in July 1974.

In his meeting with the House President, Violante underlined the need from more contacts between the two parliaments as they help in understanding the need for a just settlement on the island.

He assured that the Italian Parliament is willing to contribute towards a settlement in Cyprus and other destabilising problems in the Mediterranean region.

On his part, Mancino agreed with the Cypriot House President that the EU should make substantive efforts to increase its political clout in world events.

Occhetto underlined the need for Cyprus' reunification but said the Republic should join the EU irrespective of the outcome of procedures to achieve a settlement.

He told Kyprianou that a clear message should be sent to Turkey that its relations with Europe depend on the reunification of Cyprus, the settlement of the Kurdish question and the respect of human rights within the country itself.

He also informed the Cyprus House President that in a meeting yesterday the Committee he presides decided that a delegation should pay an official visit to Cyprus in the second half of September.

In the meeting with Ranieri, the Italian official said his country is willing to actively contribute to efforts for a settlement in Cyprus based on the UN Charter, UN resolutions on Cyprus question and the principles of international law.

He said Italy backs Cyprus' EU accession course, which got underway last year, and will continue its efforts in this direction.

CNA FZ/MA/MCH/1999

ENDS, CYPRUS NEWS AGENCY

2025:CYPPRESS:08

[08] New York - Proclamation - "Justice for Cyprus Day"

On July 20, 1974 Turkish troops invaded Cyprus and since then Turkey occupies the 37 per cent of the territory of the Republic.

Pataki handed the proclamation to the Ambassador of Cyprus to Washington Erato Kozakou - Marcoullis.

He expressed the hope the 25th anniversary of the Turkish invasion will be the beginning of the end of the illegal Turkish occupation and the beginning of the reunification of the Cyprus Republic and its people.

Kozakou - Marcoullis said that the US, which is the only remaining superpower and which has vital interests and influence in the region has a responsibility and a most important role to play in exerting an effective influence on Turkey to comply with the numerous UN Security Council resolutions.

"It must find the way to sent the strong message to its ally (Turkey) that its international conduct is at odds with the rule of law and that such conduct can no longer be tolerated" she added.

The proclamation mentions that the Empire State is fortunate to be home to one of the Nation's largest concentrations of Greek Americans who trace their roots to Cyprus.

"The citizens of the Empire State recognise the noble cause of the Cypriot and Greek American communities on their collective call for justice and an end to the threat of war in the region and a return to the Republic's former glory and grandeur," the proclamation says.

CNA MK/MCH/1999

ENDS, CYPRUS NEWS AGENCY

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