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Cyprus News Agency: News in English, 12-02-29

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

From: The Cyprus News Agency at <>


  • [01] Lebanon can ratify EEZ agreement when differences with Israel settled
  • [02] FM: Women should participate in peace process
  • [03] Situation in banks sustainable after Greek haircut
  • [04] Eurostat: Inflation down to 3.1% in Cyprus

  • [01] Lebanon can ratify EEZ agreement when differences with Israel settled

    The Lebanese Parliament can ratify the agreement between Cyprus and Lebanon for the exclusive economic zone which includes Cyprus, within a fortnight from the moment that the difference between Lebanon and Israel, concerning 850 square km, is settled.

    Speaker of the Parliament of Lebanon Nabih Berri discussed the issue of natural gas, oil and energy in general on Wednesday in Nicosia, with President of the Republic Demetris Christofias, President of the House of Representatives Yiannakis Omirou, Minister of Foreign Affairs Erato Kozakou Markoullis and Minister of Commerce, Industry and Tourism Praxoula Antoniadou.

    Speaking at a joint press conference with Berri, Omirou said that the two countries were developing a creative cooperation in the sector of energy, to the benefit of their peoples and also peace, cooperation and stability and the region, and referred to the close cooperation and solidarity of Cyprus and Lebanon.

    Berri said his visit to Cyprus had a threefold aim. The first was to find out how the European Cyprus could be a bridge to the Arab world via Lebanon and vice versa, the second was to discuss the issue of water reserves under the seabed, which the two countries could exploit, and the third was the issue of natural gas and energy.

    He pointed out that the problem was not between Cyprus and Lebanon but between Lebanon and Israel, with Tel Aviv trying to exploit the sensitivities in the area and relations with Turkey, in order to benefit from an area of 850 square km.

    Regarding the Cyprus issue, Berri said Lebanon supports the unity of Cyprus and expressed support to the continuation of talks between the leaders of the two communities in Cyprus for the reunification of the island, which has been divided since 1974, when Turkey invaded and occupied its northern third.

    [02] FM: Women should participate in peace process

    Cypriot Minister of Foreign Affairs Erato Kozakou Markoullis has pointed out the importance of creating conditions for the participation of Cypriot women in the peace process, which would guarantee that the solution and any initiatives for constructing peace would reflect their needs and respect their rights.

    Addressing the high level meeting of the 19th Session of the Council of Human Rights, in Geneva, Markoullis said Cypriot women have always been the soul of the Cypriot family, and pointed out the drama they experienced and continue to experience due to the 1974 Turkish invasion and occupation of the island`s northern third.

    Unfortunately, she said, the participation of women in peace negotiations internationally does not exceed 8% of the current peace processes, and thus it is imperative to promote the participation of women in the various stages of peacemaking.

    Women, she said, have a right to participate and benefit from decisions that determine their lives and future.

    [03] Situation in banks sustainable after Greek haircut

    The economic situation of the Cypriot banks is sustainable despite huge losses announced following the haircut of the Greek sovereign debt, Finance Minister Kikis Kazamias and Central Bank Governor Athanasios Orphanides said on Wednesday.

    Kazamias and Orphanides met and examined the situation of the Cypriot economy and especially the status of the Cypriot banks following their Greek debt impairment. Bank of Cyprus announced last week losses of 1 billion euro, while Cyprus Popular Bank announced losses of 2.5 billion and Hellenic Bank losses of 100 million.

    ``The situation is deemed as sustainable and as the Finance Minister I would like to assure Cyprus` businesspeople and all those who deal with Cypriot banks and first of all the depositors that the situation does not cause any concern whatsoever,`` Kazamias said in statements following the meeting. He added that the state has put in place the necessary legislation to secure their interests in the future.

    Kazamias noted that the state expects from the banks` administration to implement their plans for their recapitalisation which ``in general give us the right to assess the situation as sustainable.``

    Orphanides said the results announced by the Cypriot banks were to be expected following the EU Summit conclusions on 26 October 2011.

    [04] Eurostat: Inflation down to 3.1% in Cyprus

    Annual harmonized inflation in Cyprus was down at 3.1% in January 2012 compared to 4.2% in December 2011, Eurostat data published on Wednesday.

    Eurozone average inflation was down to 2.6% in the eurozone compared to 2.7% in December 2011 and to 2.9% in the EU compared to 3% in December 2011.

    Ireland (1.3%) and Malta (1.5%) recorded the lowest inflation in December whilst Estonia (4.7%) and Slovakia (4.1%) recorded the highest.

    Products and services recorded price variation on an annual basis where energy +11.7%, tobacco and spirits +3.5%, transport +5.4%, housing +4.9%, restaurants and hotels +1.9%, education +1.5%, health 1.7%, household equipment +1.2%, clothing +0.6%, nutritional products +0.6% and telecommunications -1.4%.

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