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Cyprus News Agency: News in English, 12-05-08

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

From: The Cyprus News Agency at <>


  • [01] FM: Cypriot EU Presidency a significant task we have to fulfill
  • [02] Developments in Greece not positive, says FinMin
  • [03] Labour should be high on the agenda, Labour Minister and ILO stress
  • [04] Triple Five expressed interest for Cyprus Airways

  • [01] FM: Cypriot EU Presidency a significant task we have to fulfill

    The Cypriot Presidency of the Council of the European Union during the second half of 2012 is a "significant task" Foreign Minister Erato Kozakou Markoullis said addressing an event on Monday.

    Markoullis said that "with a view to succeed in this goal we will have to pursue the cooperation of all institutions, public and private, social partners as well as of the civil society."

    She noted that during the Cypriot Presidency fifteen informal Councils will take place at the ministerial level in Cyprus and 180 other meetings of senior European officials, which along with other cultural, communication and publicity activities will promote Cyprus worldwide.

    Markoullis noted that everyone aims at a successful Presidency, irrelevant of their political approaches.

    The Foreign Minister said that Cyprus' accession to the EU has been a major milestone for the country's future course, adding that our course in the EU has not finished with our accession and since May 1st 2004 Cyprus has been an active member of the Union, participating in the drafting of its politics and visions.

    Markoullis also stressed that irrelevant of its political problem, Cyprus will move forward and undertake a Presidency which aims at effectiveness and success.

    Furthermore she noted that "we will not use our privileged position as the Presidency of the Council of the EU to promote our national positions."

    On the other hand, she added, "we do not accept to be a second class Presidency, due to our political problem and the provocative stance of Turkey towards the Council of the EU and particularly towards the country which will be hold the Presidency".

    Referring to the financial crisis in the EU, Markoullis said that it is indispensable to support cohesion and unity of member states.

    "Our vision," she stressed, is to create a better Europe for its citizens and its neighbours, based on the fundamental principle of solidarity and contributing towards strengthening the social coherence."

    She assured that the Cypriot Presidency will promote issues related to European citizens' quality of life.

    As regards the Cyprus problem, she said that "we have made clear towards every direction that the Cypriot Presidency of the Council of the EU will not shift our firm goal to achieve a viable solution that will reunite Cyprus."

    "Our hope and our vision," she added, "still is to find a settlement the soonest and to reunite the country and its people," she concluded.

    [02] Developments in Greece not positive, says FinMin

    Cypriot Minister of Finance Vassos Sharly said the developments in Greece are not positive, adding that these developments should concern Cyprus due to the connection of the economies of the two countries.

    Greece, which received EU bailout, plunged into political uncertainty following the general elections in the country last Saturday, which rewarded political parties against the fiscal austerity imposed by the bailout plan, intensifying speculation over the country`s exit from the Euro area. The Cypriot economy is connected through its banking system as Cypriot commercial banks operating in Greece posted huge losses following the haircut of Greek sovereign debt.

    ``This development is not positive not only for us in Cyprus, but in general for Europe. This is why the reactions were rather negative,`` Sharly said invited to comment the situation in Greece.

    ``So far as we are concerned due to the special relationship we have with Greece, (the developments) necessitate particular concern,`` he said.

    The Minister said he does not share the view that if Greece abandons the Euro Cyprus should follow suit.

    Furthermore, Sharly refrained from revealing the actions of the government in case one of the Cypriot commercial banks request state aid to achieve its recapitalization plan, reiterating that the government has many ways with which it could assist a bank to secure its recapitalization.

    [03] Labour should be high on the agenda, Labour Minister and ILO stress

    The International Labour Organization (ILO) calls on states to create appropriate conditions for a dramatic change in their current policy approach and recognize the importance of setting labor high on their agenda.

    The "World of Work Report 2012" by ILO, titled "Better Jobs for a Better Economy", underlines the need to set labor as a priority and ascribe more consistency between macroeconomics, labour and social policies.

    The ILO study recognises the difficulty of the task, which it says, requires a shift in domestic and global governance.

    Asked by CNA to comment on the study, Charalambous said that her Ministry has repeatedly stressed at EU level and elsewhere that fiscal consolidation needs to strike a balance with development and social cohesion. All three points are essential the Minister went on, noting that the last extraordinary EU Council stressed the importance of boosting development, that will in turn create more jobs.

    The ILO study notes that the labour market has not fully recovered since the start of the financial crisis in 2008 and that there is a deficit of 50 mln jobs compared to the pre-crisis period.

    [04] Triple Five expressed interest for Cyprus Airways

    Cypriot national carrier, Cyprus Airways announced Tuesday that a number of organizations have expressed interest in participating in the airway's share capital, but no concrete proposal has been brought before the company so far.

    Commenting on press reports Cyprus Airways noted that Canadian group Triple Five had expressed its intention in a letter sent to the airline on May 4, in acquiring a majority stake in the carrier and the group had requested data on the financial situation and the activities of the company.

    ``Triple Five informed the company that it would make its final decision on the issue after assessing this data,`` Cyprus Airways pointed out. The company added that a number of other organizations have expressed an interest in participating in the company, with no specific proposals yet.

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