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Cyprus News Agency: News in English, 13-04-22

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

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


CONTENTS

  • [01] UK Cypriots to act as goodwill ambassadors for Cyprus
  • [02] EU national parliaments should step up cooperation with third

    countries

  • [03] Eurostat: Cyprus' deficit at 6.3%, government debt at 85.8% in 2012
  • [04] CBC to announce interim Board of Directors for Bank of Cyprus

    next week

  • [05] Lessons should be drawn from the Greek coup, government says

  • [01] UK Cypriots to act as goodwill ambassadors for Cyprus

    High profile British Cypriots, including prominent entrepreneurs, financiers and philanthropists, will act as goodwill ambassadors for Cyprus in a bid to attract investment from Britain and Europe in specific Cypriot projects relating to business, culture and tourism.

    This was the message articulated by the President of the Federation of UK Cypriots Peter Droussiotis after a four day fact-finding visit to Cyprus, which included meetings with President Nicos Anastasiades and Archbishop Chrysostomos.

    Among the people with whom they met were Kate Clerides (Presidential Commissioner for Overseas Cypriots and Humanitarian Affairs), Phidias Pilides and Marios Tsiakkis (President and Secretary-General respectively of the Cyprus Chamber of Commerce and Industry), Christodoulos Angastiniotis and Charis Papacharalambous (Chairman and Director-General respectively of the Cyprus Investment Promotion Agency), Nondas Metaxas (Director-General-CEO of the Cyprus Stock Exchange) and Charles Ellinas (Executive President of the Cyprus National Hydrocarbons Company).

    [02] EU national parliaments should step up cooperation with third countries

    Ways to strengthen Arab Spring countries following changes in the Middle East and the role of EU national parliaments and the European Parliament in enhancing democracy and human rights in third countries were examined during the first session of the Conference of Speakers of EU Parliaments taking place in Nicosia.

    President of the House of Representatives Yiannakis Omirou said that Cyprus can act as a bridge between the EU, on one part, and the Middle East and North Africa on the other.

    Omirou said that "EU parliaments can provide substantial support and technical assistance to Parliaments of countries in transition, so as to make them fully effective and to enable them meet the challenges related to promotion of peace and development, both within their countries and in context of international cooperation."

    [03] Eurostat: Cyprus' deficit at 6.3%, government debt at 85.8% in 2012

    Cyprus' ratio of government debt to GDP stood at the end of 2012 at 85.8%, recording a significant increase from 2011, according to the first deficit and debt data published today by Eurostat.

    According to the first results, which will be finalized next October, Cyprus government debt was 15,350 bln euros in 2012. A year earlier, in 2011, the government debt ratio was 71.1% or 12,778 bln.

    This is the second biggest annual increase of debt in the Eurozone, following Spain.

    [04] CBC to announce interim Board of Directors for Bank of Cyprus next week

    Central Bank of Cyprus is to announce early next week the composition of the interim Board of Directors of Bank Cyprus, which following a Eurogroup decision for a €10 billion financial assistance to Cyprus, absorbed the good part of Cyprus Popular Bank which will be wound down.

    Following the Eurogroup decision on March 25, uninsured depositors (over €100,000) in Bank of Cyprus will take losses up to 60%, while they will be given shares. The Bank is managed by an administrator who oversees the restructuring process, as the CBC acting as Resolution Authority has sacked the Bank`s senior management and the Board of Directors. The interim Board will take over until the share holders meeting convene in September to elect the new Board. Following the Eurogroup decision, Cyprus imposed capital restrictions in a bid to protect the island`s banking system.

    Speaking to CNA Minister of Finance Haris Georgiades said that the finalization of the restructuring process in Bank of Cyprus is an important step towards the normalization of the situation in the banking system.

    [05] Lessons should be drawn from the Greek coup, government says

    The government said lessons should be drawn from the "black anniversary" of the military coup in Athens, on April 21, 1967.

    The Athens junta established a 7-year military rule in Greece and backed a coup against Cyprus President Makarios in the summer of 1974, triggering Turkey's invasion to the island Republic.

    In a written statement, Government Spokesman Christos Stylianides said that "the President of the Republic and the government call on everyone to draw lessons and avoid repeating such criminal acts against the nation".


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