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Cyprus News Agency: News in English, 13-04-08

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

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


CONTENTS

  • [01] Foreign and Energy Ministers pay a working visit to Israel
  • [02] Cyprus and Israel cooperation aims to attain peace, Minister says
  • [03] Exemptions will lead to larger "haircut", says Central Bank Governor
  • [04] Finance Minister: Cyprus' economy at a difficult point
  • [05] Spokesman: Bills being prepared to restart the economy

  • [01] Foreign and Energy Ministers pay a working visit to Israel

    Cyprus-Israeli bilateral relations, cooperation in energy matters, commerce and tourism, the Cyprus issue and developments in the EU's Southern Neighborhood are on the agenda of high level talks Foreign Minister Ioannis Kasoulides and Energy Minister Giorgos Lakkotrypis will have in Israel.

    According to an official announcement, the two Ministers depart on Monday for a working visit to Israel. They will meet with Israel's President Shimon Peres, Prime Minister Benjamin Netanyahu, Energy Minister Sylvan Shalom, Tourism Minister Uzi Landau and Deputy Foreign Minister Zeev Elkin.

    Moreover, Lakkotrypis will have a separate meeting with Industry, Trade and Labor Minister Naftali Bennett.

    [02] Cyprus and Israel cooperation aims to attain peace, Minister says

    Cyprus and Israel cooperation aims to attain peace, stability and development in our region and does not turn against anyone, Minister of Defence Photis Photiou said following a meeting with the Ambassador of Israel Michael Harare, held here Monday.

    The Israeli Ambassador expressed his country's intention to strengthen the bilateral relations between the two countries in the interest of the two states and their people.

    Speaking to the press, Photiou said that he had the opportunity to meet the Ambassador of Israel for the first time following his appointment as Minister of Defence.

    [03] Exemptions will lead to larger "haircut", says Central Bank Governor

    Exemptions of certain deposits from the ‘haircut' will probably lead to an increase in the final ‘haircut' of uninsured deposits over €100,000, according to data submitted to the Parliamentary Committee of Financial and Budgetary Affairs by Cyprus Central Bank Governor Panicos Demetriades, on Monday.

    According to the data, the exemptions were the result of a joint Eurogroup - government decision to protect certain depositor groups such as charitable institutions, general government deposits, educational institutions' funds and other groups.

    "Every additional exemption increases the contribution of other unsecured deposits", Demetriades said.

    [04] Finance Minister: Cyprus' economy at a difficult point

    The Cypriot economy is at a difficult point, Minister of Finance Harris Georgiades told the Parliamentary Committee of Financial and Budgetary Affairs, on Monday.

    Public funds will have reached their limit by the end of the month, Georgiades told MPs, adding that the government has no alternative but to proceed with the implementation of the adjustment programme.

    At the same time he stressed that staying in the euro zone and the EU is not under discussion.

    [05] Spokesman: Bills being prepared to restart the economy

    The government has set up teams at Ministries comprising technocrats and even private experts, who are working on specific bills aimed at creating growth and restarting the economy, to be submitted at the next meeting of the Council of Ministers.

    Government Spokesman Christos Stylianides said the bills cut red tape and facilitate, inter alia, small and large development projects, and foreign investments, and also deal with the management of Turkish Cypriot property and the restriction of renting costs for state services.

    He also said there were specific actions and initiatives on the political, diplomatic and expert level in order to increase the use of European grants.


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