Cyprus News Agency: News in English, 08-12-16

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

CONTENTS

[01] CHRISTOFIAS: NEGOTIATIONS

[02] DOWNER - TALKS

[03] BANKING SYSTEM - LIQUIDITY

[04] CHANUKAH - CYPRUS

[01] CHRISTOFIAS: NEGOTIATIONS

Christofias and Talat had here today their 12th meeting, during which they discussed issues regarding external relations.

Invited to say if the discussion on these issues has been completed, President Christofias replied negatively adding that they will continue during their next meeting.

To a remark that UN Secretary General Special Advisor on Cyprus Alexander Downer spoke about thorny issues in his statements after the meeting, Cyprus President said that there are thorny issues.

He added that he does not want to enter into details, revealing what is being discussed, what the one side and what the other is saying, noting that this would be unproductive.

To a remark that according to Presidential Commissioner George Iacovou the issues discussed at the talks end up in two baskets, the one containing what has been agreed and the other the issues on which there is disagreement, President Christofias said that this was expected and this was the procedure that we had decided from the beginning, that at the end of the discussion of every aspect of the Cyprus question we will classify the issues on which we agree and the issues on which we disagree to be able to move forward to the rest aspects of the Cyprus question.

Asked if the positions of the two sides are crystal clear, so that they can reach to an outcome even on the issues they disagree, the President said: Not yet. We are now discussing the external relations. There is the hierarchy of the laws. We will again touch upon the issues of deadlock resolving mechanisms. There are also issues we need to discuss before we begin discussions on another aspect of the Cyprus question, he added.

President Christofias and Talat have been engaged in direct negotiations since early September this year, aiming at reuniting the island, divided since the 1974 Turkish invasion.

[02] DOWNER - TALKS

UN Secretary Generals Special Adviser for Cyprus, Alexander Downer, who was present at the meeting, said that the leaders, Cypriot President Demetris Christofias and Turkish Cypriot leader Mehmet Ali Talat discussed the external relations, powers of a federal government.

He added that discussion on that issue will continue during the next meeting, which will take place 22nd of December.

The next issue on the agenda, he said, is the relationship between the laws of the constituent states and the federal government.

Asked how the negotiations are proceeding so far, the former Australian Foreign Minister said it is good that they continue the discussions on these issues and described the issues as very big issues for any community to work through.

The meeting, which was scheduled to take place on the 29th of December will not take place due to the December holiday season, Downer said.

[03] BANKING SYSTEM - LIQUIDITY

Speaking here Tuesday to the Press, Stavrakis said that this move will allow the government to refinance public loans which expire in 2009 and at the same time will inject liquidity in the Cypriot banking system without affecting the 2008 estimated 49.3% public debt index.

The loan was concluded during an auction held by the Central Bank of Cyprus on December 15 for the sale by CBC and on behalf of the Government of up to 1.4 billion Euro Treasury Bills with date of issue January 2, 2009 and date of maturity October 2, 2009. The total value of the bids submitted was 3.740.000.000. The total value of bids accepted was 1.4 billion Euro. The Treasury Bills will be traded in the Cyprus Stock Exchange.

Stavrakis said that the government after refinancing public loans expiring in 2009 will deposit a total of 700 million euro to the Cypriot banks until the coming October.

``Therefore we feel that the problem that the economy and the banking system will not have liquidity or excessive liquidity is solved and I think with this move an important step for the reduction of the lending rates is made,`` Stavrakis added.

[04] CHANUKAH - CYPRUS

A press release issued by the Cyprus Jewish Community Centre said that the Cyprus Chanukah celebrations will receive a significant boost this year as a special celebration with local dignitaries participating, will beheld on Sunday, 21 December.

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