Cyprus PIO: News Update in English, 98-06-16

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From: The Republic of Cyprus Press and Information Office Server at <http://www.pio.gov.cy/>

News Update

Tuesday, 16/06/98

CONTENTS

• [01] British Spokesman says no country can veto Cyprus' EU accession
• [02] Cyprus congratulated for anti-money laundering measures

[01] British Spokesman says no country can veto Cyprus' EU accession

Replying to a question on the recent French statement in relation to Cyprus' accession course, the spokesman said:

"On Cyprus there were detailed discussions in spring. We all agreed that Cyprus should start accession negotiations. The Cyprus government made an offer for the participation of the Turkish Cypriots in the Cypriot negotiating team. This was rejected. We thought this was regrettable. The offer, however, is still on the table. Now negotiations are under way".

"Obviously the accession process for Cyprus will be more difficult in present circumstances than if there were a viable political negotiation going on, but we have all agreed a long time ago, and confirmed recently, that we can't give a veto to anyone in this process, including a veto to Turkey", he added.

[02] Cyprus congratulated for anti-money laundering measures

The Select Committee of Experts on the Evaluation of Anti-Money Laundering Measures of the Council of Europe says Cyprus is to be congratulated on the very comprehensive legal framework that has been put into place, that it compares favourably with others in place in larger countries which are members of the "Financial Action Task Force", and that it has established a standard for neighbouring countries to seek to emulate.

The Report refers at length primarily to the legal measures taken, to measures taken in the financial sector, particularly by the Central Bank, and the role of the Unit for Combating Money Laundering, which operates from the Attorney-General's Office.

It also includes some recommendations for further improving the implementation of the measures adopted which will be considered by the competent authorities.

Cyprus was among the countries which volunteered to be among the first to be assessed.

A delegation of the Committee visited Cyprus last April to assess the measures that have been taken against money laundering activities and the manner in which they have been implemented by the Cyprus government.

Similar assessments will be made for all the Council of Europe member- states which are not members of the "Financial Action Task Force".

The Report, which was prepared by the Evaluation Team, was discussed, together with the Report on Slovenia, and approved by the Plenary Session of the Committee at a meeting between 3-5 June 1998.

From the Republic of Cyprus Press and Information Office (PIO) Server at http://www.pio.gov.cy/

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