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Cyprus News Agency: News in English, 12-05-17

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

From: The Cyprus News Agency at <>


  • [01] FinMin tables CPB capital enhancement backing plan to Parliament
  • [02] Greece reiterates support for Cyprus
  • [03] President of Swiss Confederation to visit Cyprus
  • [04] House President meets with representatives of Dutch Lower House

  • [01] FinMin tables CPB capital enhancement backing plan to Parliament

    The Minister of Finance Vassos Sharly submitted Wdnesday to the Parliament a bill providing for state backing to Cyprus Popular Bank`s capital enhancement plan.

    In statements to the press, Sharly confirmed the CPB announcement earlier to the Cyprus Stock Exchange that the government decided to act as an underwriter of the capital raising of 1.8 billion euro by the Bank but refrained from making any further remarks in view of the debate at the Parliamentary Committee on Financial and Budgetary Affairs and its final approval by the House Plenary.

    ``A proposal for the CPB recapilisation earlier by the Council of Ministers has been submitted,`` Sharly said, adding that he will say more on the issue following the bill's approval.

    If the plenary decides to promote the bill as urgent, the Finance Committee will convene immediately to examine the bill and submit it to the plenary for approval.

    According to a stress test conducted by the European Banking Authority (EBA) last December, the CPB needs to secure a capital buffer of 1.97 billion euro to increase its core Tier 1 capital to 9 percent.

    [02] Greece reiterates support for Cyprus

    Greece has assured that, in spite of the difficult times it is facing, it stands firm on the Cyprus issue, in support of the ongoing UN effort to find a negotiated settlement to reunite Cyprus, divided since the 1974 Turkish invasion.

    ``On the Cyprus problem we stand by the Republic of Cyprus, securing that the basic guidelines of the negotiating process in the UN framework will not change despite pressure from the Turkish side for artificial timeframes,`` Greek outgoing Minister of Foreign Affairs Stavros Demas said here today, as he handed the reins to the interim FM Petros Molyviatis.

    He said Greece promoted cooperation on energy and opened prospects for broader cooperation with other countries on the transport of energy resources from the Eastern Mediterranean to Europe.

    Referring to the upcoming Cypriot EU presidency, Demas said that Greece has provided Cyprus with personnel and expertise. Referring to Turkey, the outgoing FM said that Greece has maintained its firm positions.

    [03] President of Swiss Confederation to visit Cyprus

    President of the Swiss Confederation Mrs. Eveline Widmer-Schlumpf arrives in Cyprus on Friday on a one-day official visit, the first ever by a president of the Swiss Confederation.

    Widmer-Schlumpf will be welcomed by Minister of Foreign Affairs Dr. Erato Kozakou- Marcoullis.

    The Swiss President and her entourage will go to the Presidential Palace where she will be welcomed by President the Republic Demetris Christofias. The two will have a tete-a-tete meeting.

    The two presidents and delegations from both countries will hold official talks followed by statements to the press.

    [04] House President meets with representatives of Dutch Lower House

    Representatives of the European Affairs Committee of the Dutch Lower House, paying a working visit to Cyprus in view of the forthcoming Cyprus Presidency of the Council of EU, were received Thursday by President of the House of Representatives, Giannakis Omirou.

    During the meeting Omirou referred to the economic crisis in Europe, stressing the need for measures to boost growth beyond the strict austerity.

    He pointed out that among the priorities of Cyprus Presidency will be the promotion of economic growth, social solidarity and the creation of better living conditions for all European citizens.

    Speaking about the Cyprus problem, Omirou said that the lack of progress in the negotiations is a result of the Turkish intransigence. He added that Turkey, a candidate EU member -state should implement the Ankara Protocol and work honestly for a solution of the Cyprus problem, based on the relevant decisions and resolutions of the UN and the principles and values of the EU.

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