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Cyprus News Agency: News in English, 12-03-16

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

From: The Cyprus News Agency at <>


  • [01] President to announce Cabinet reshuffle on Monday
  • [02] Cypriot FM discusses EEZ with Lebanese counterpart
  • [03] CySEC getting ready for Cyprus` EU presidency

  • [01] President to announce Cabinet reshuffle on Monday

    President of Cyprus Demetris Christofias will announce on Monday, his decisions for a limited Cabinet reshuffle, Government Spokesman Stephanos Stephanou has said in a written statement.

    Stephanou also pointed out that newspaper reports saying that Finance Minister Kikis Kazamias has resigned because of disagreements with the President do not correspond to reality.

    ``The Minister of Finance has submitted his resignation to the President of the Republic solely for health reasons. The President, as expected, asked the Minister of Finance to remain in his positions”, he said.

    “However”, he added “the Finance Minister insisted on his resignation, and eventually the President accept it”.

    [02] Cypriot FM discusses EEZ with Lebanese counterpart

    Cyprus will do everything possible to facilitate a solution of the problem between Lebanon and Israel regarding the Exclusive Economic Zone (EEZ) Agreement and we will continue efforts so that a solution will be found, said Cypriot Foreign Minister Erato Kozakou-Markoullis after meeting in Beirut her Lebanese counterpart Adnan Mansour.

    “We will be exerting every effort to solve the problem, and I think this is the only thing I can say at this moment. We are very optimistic that a solution will be found very soon”, she said.

    Asked if no agreement is reached on maritime borders, Mansour said that the disagreement concerning the maritime borders is not with Cyprus, but with Israel, considering that Israel carried out the demarcation of the line starting from point 23 and exceeded a part of the economic region. “We hope this issue will be solved in the future”, he said.

    "We are counting on the United Nations to find a solution concerning the line with Israel. Cyprus showed readiness and willingness to cooperate with us”, he added.

    [03] CySEC getting ready for Cyprus` EU presidency

    The Cyprus Securities and Exchange Commission (CySEC) is feverishly preparing to chair and co-ordinate about 12 EU subcommittees dealing with financial issues, when Cyprus assumes the EU presidency in the second half of 2012.

    Chairwoman of CySEC Demetra Kalogirou has told CNA that the Commission will have a lot of work to do as during this period all financial laws handled by the EU Securities and Exchange Commissions are set to be amended by the European Commission.

    She noted that the CySEC and the Ministry of Finance has set a target of completing certain issues during Cyprus’ EU Presidency.

    Kalogirou said that some of the issues the CySEC would seek to conclude during the Cypriot presidency of the EU are the European directive MiFID II, which is setting out a new institutional framework of operation for the harmonisation of markets in financial instruments in Europe, the changes to the law of international rating agencies (CRA), the law on market abuse and the law on periodic reporting (transparency).

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