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Cyprus News Agency: News in English, 09-07-29

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

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


CONTENTS

  • [01] SPOKESMAN - ECHR - FRIENDLY SETTLEMENT - PROPERTY ISSUE
  • [02] GOVERNMENT - BRITISH COURT - ILLEGAL FLIGHTS
  • [03] CENTRAL BANK - ECONOMY

  • [01] SPOKESMAN - ECHR - FRIENDLY SETTLEMENT - PROPERTY ISSUE

    Government Spokesman Stephanos Stephanou has said that the fact that the European Court of Human Rights (ECHR) has endorsed a friendly settlement reached between Greek Cypriot Andromachi Alexandrou and the so called compensation commission in Turkish occupied areas does not constitute recognition of the ``legality`` or the ``effectiveness`` of the commission.

    Stephanou said that in its judgment on the merits of the case which originated in an application against the Republic of Turkey by Alexandrou, the ECHR held that there had been violations of the Human Rights Convention, but the applicant chose to make a compromise.

    He also noted that this compromise does not determine the time when part of the applicants property, the restitution of which Turkey accepted, will be returned to her and that there is no arrangement as to how it will be restituted or if the applicant will be able to use it freely.

    [02] GOVERNMENT - BRITISH COURT - ILLEGAL FLIGHTS

    Government Spokesman Stephanos Stephanou has expressed the satisfaction of the Republic of Cyprus over a ruling of the Administrative Court of the High Court of Justice, Queens Bench Division, of the United Kingdom which dismissed an application for judicial review brought by two companies against the decision of the British Secretary of State for Transport to refuse their applications for the granting of permits to conduct direct flights between the UK and an airport operating illegally in the occupied area of the Republic of Cyprus.

    Stephanou described as very important the fact that the court noted the UKs obligation to respect the rights enjoyed by the Republic of Cyprus as a Contracting Party to the Chicago Convention on International Civil Aviation and the UKs obligation not to recognise the self-styled Turkish Republic of Northern Cyprus and acts emanating from such non-recognized entity.

    [03] CENTRAL BANK - ECONOMY

    Loan to deposit ratio of the Cypriot financial institutions deteriorated due to the slowdown of the economy, in the mid of the global financial crisis, figures released by Cyprus Central Bank (CCB), show.

    According to CCB`s Monetary and Financial Statistics for June 2009, total deposits to Cypriot financial institutions on June 2009, including Government deposits of approximately 2.8 billion euro reached 58.13 billion euro representing an increase of 6.94% compared to 54.35 billion euro in June 2008.

    Total loans increased by 21.75% to 56.85 billion euro, while in June 2008 total loans stood at 46.70 billion euro


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