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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] President Christofias participates in crucial EU Summit
  • [02] Eur. Socialists: Occupation intolerable
  • [03] Christofias attends PES leaders` conference
  • [04] Petroleum product sales increased in 2011

  • [01] President Christofias participates in crucial EU Summit

    National and community measures to boost European economy, the Treaty on European Stability Mechanism and the new intergovernmental treaty on budgetary discipline are the key issues of Monday`s EU summit in Brussels, where Cyprus will be represented by President Demetris Christofias.

    The working sessions will begin in early afternoon, with the usual meeting with the President of the European Parliament Martin Schultz, during which there will be an exchange of views on the topics of the meeting.

    Regarding the European economy, the discussion will be based on EU Presidents Herman Van Rompuy proposal, which aims to send a political message to European citizens, that governments in addition to budgetary discipline will set as a priority the boost of the real economy and the increase of employment.

    The plan is expected to decide action in three areas, namely tackling youth unemployment, exploiting the opportunities offered by the single market, and further support of SMEs financing.

    At the meeting, European leaders will sign the new Treaty establishing the European Stability Mechanism (ESM) effective as of July 1. The ESM will be responsible for rescuing the countries that will sign the new financial treaty. It has powers to intervene in the secondary bond market and provide loans as a precaution. Member states will endow ESM with 80 billion euros and its total capacity, backed by guarantees, will reach 500 billion euros.

    However, this amount is not enough to rescue large countries like Italy and Spain, and therefore there are very strong pressures to increase the liquidity of the fund.

    The ``27`` are expected to finalize today the content of the new intergovernmental financial Treaty, agreed at their summit on 8-9 December, while the official signing will take place at their next Summit (1-2 March).

    On the sidelines of the summit, leaders of the eurozone are expected to discuss, the new support of Greece, where they will exchange views on open issues.

    [02] Eur. Socialists: Occupation intolerable

    The President of the Party of European Socialists (PES) Sergei Stanishev expressed support to the efforts of Cyprus President Demetris Christofias to reach a Cyprus solution, adding that the countrys Turkish occupation cannot be tolerated by European Socialists.

    The President of the Republic of Cyprus met on Monday with Stanishev in Brussels, with whom he discussed developments in Cyprus talks and the forthcoming Cyprus EU Presidency. The meeting took place just before a preparatory PES meeting, in view of the informal EU Summit, to take place later in the day.

    They also exchanged views on issues of financial development and social cohesion in the EU, in light of the ongoing financial crisis and growing unemployment, especially among the youth.

    President Christofias briefed Stanishev on the meeting that took place at Greentree, New York, earlier in January, upon the invitation of the UN Secretary-General, in the framework of efforts to reach a comprehensive Cyprus solution. Christofias and Stanishev also agreed that Turkeys EU accession could never be completed prior to a Cyprus solution.

    [03] Christofias attends PES leaders` conference

    President Demetris Christofias attended on Monday the Party of European Socialists (PES) leaders conference, which discussed the current financial crisis and the major problem of unemployment in the EU, mainly among the young people.

    Leaders also discussed the issue of the draft Treaty for Stability, Coordination and Governance in the Economic and Monetary Union to be examined today during the Informal European Council.

    Christofias was invited for the first time by the PES to attend the conference as the progressive leader of the next Presidency of the Council. In his intervention at the meeting, Christofias requested the support and cooperation of European Socialists during the Cypriot EU Presidency, in the second half of 2012, especially as regards social coherence issues.

    We believe, he noted, that its is imperative, during the Cypriot Presidency, to spare no efforts with a view to pave the way for a sound dialogue aiming to build a European social model that will focus on the individual and his needs and will be based on the best practices and achievements of the most advanced EU member states in this field. In this way, he noted, we will address social challenges and we will achieve the needed social coherence which constitutes a primary demand of European citizens.

    [04] Petroleum product sales increased in 2011

    The total sales of petroleum products in 2011 recorded an increase of 0.5% compared to the previous year, according to the figures published on Monday by the Statistical Service.

    The figures show that the total sales of petroleum products in December 2011 recorded a decrease of 0.9% compared to the previous month.

    A considerable decline was observed in the sales of Asphalt, Heavy Fuel Oil and Aviation Kerosene, while an increase was recorded in the sales of Unleaded Motor Gasoline, Liquefied Petroleum Gases, Kerosene and the provisions of Gasoil to ships. A significant increase was observed in the sales of Kerosene, Gasoil, Liquefied Petroleum Gases, Gasoil for Marine use and Aviation Kerosene.

    The sales of Unleaded Motor Gasoline 95 RON showed a marginal rise of 0.4%. On the contrary, a decrease was recorded in the sales of Asphalt, Unleaded Motor Gasoline 98 RON, Light Fuel Oil, Gasoil Low Sulphur and Heavy Fuel Oil.

    The stocks of petroleum products at the end of 2011 recorded a decrease of 6.2% compared to the end of the year 2010.

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