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Cyprus News Agency: News in English, 12-01-30

Cyprus News Agency: News in English Directory - Previous Article - Next Article

From: The Cyprus News Agency at <>


  • [01] Cyprus President takes part at informal European Council
  • [02] UNSG discusses Cyprus problem at Davos
  • [03] Financial crisis in Cyprus is being successfully tackled, FinMin


  • [01] Cyprus President takes part at informal European Council

    Youth employment, the Single Market and the financing of Small and Medium Enterprises (SMEs) will be amongst the topics the informal meeting of the European Council will address Monday in Brussels, with the participation of Cyprus President Demetris Christofias.

    The President of the Republic departed on Sunday afternoon for the Belgian capital, where he will also take part at the meeting of prime ministers and leaders of the Party of European Socialists, prior to the EU Summit.

    According to European Council President Herman Van Rompuy, European leaders will exchange views during todays session with the new President of the European Parliament Martin Schulz.

    Moreover, the 27 leaders will discuss about the continuation of EU efforts to ensure financial stability and fiscal consolidation, and talk over the adoption of active measures, that will enhance growth and competitiveness and will create jobs.

    The EU Summit will particularly focus on immediate action to be taken in the specific areas of youth unemployment, the Single Market and SMEs.

    Moreover, the European Council is expected to endorse the European Stability Mechanism treaty and register agreement on the new treaty on stability and convergence within the euro area. The two treaties aim to strengthen further the EU instruments to ensure the consolidation and development of the euro area

    [02] UNSG discusses Cyprus problem at Davos

    The Cyprus problem and the outcome of last weeks meeting in New York between the UN Secretary General and the leaders of the two communities in Cyprus was among the issues Ban Ki moon discussed during his contacts on the sidelines of the World Economic Forum, in Davos.

    According to the Spokesman of the UN Secretary General, Ban met with Foreign Minister for Sweden, Carl Bildt, with whom he discussed the five year Action Agenda of the Secretary-General, new humanitarian initiatives, and the situation in Cyprus.

    The Secretary-General met also the President of the Swiss Confederation, Eveline Widmer-Schlumpf. According to the national press agency of Switzerland SDA, (Schweizerische Depeschenagentur), Widmer - Schlumpf said that Switzerland has agreed to continue to play a crucial role in the reunification and desired, as in 2004, to host a conference with the representatives of the two communities in Cyprus.

    [03] Financial crisis in Cyprus is being successfully tackled, FinMin says

    The financial crisis facing the Cypriot economy is being tackled successfully so far, Finance Minister Kikis Kazamias has said.

    Addressing a ceremony in Athens to award prizes to Cypriot expatriates who have excelled in secondary schools and those who secured a place in Greek universities, Kazamias said that so far the situation is being tackled successfully in a climate of political consensus and social participation.

    The Minister expressed hope that this will continue in 2012, so that the economy will make small progress by the end of the year.

    Referring to the causes of the financial crisis in Cyprus, as a result of the global financial crisis, Kazamias recalled the distortions in the economy, structural weaknesses as well as last Julys massive explosion at a naval base on the island which crippled the main power station, resulting in regular power cuts.

    The crisis, he added, forced the Republic of Cyprus to address the distortions in the economy, which everyone acknowledged existed but no government dared address them or promote structural changes.

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