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Cyprus News Agency: News in English, 13-10-24

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

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


CONTENTS

  • [01] Cyprus' public debt in Q2 2013 up by 15.2% to 98.3% of GDP
  • [02] Defence Minister: Natural resources an incentive for a Cyprus

    solution

  • [03] ILO to help Cyprus in tackling undeclared work, Minister says
  • [04] University of Cyprus manages €50 million from EU programmes

  • [01] Cyprus' public debt in Q2 2013 up by 15.2% to 98.3% of GDP

    Cyprus` public debt in the second quarter of 2013 increased to 98.3% of GDP from 83.1% in the corresponding quarter of 2012, figures released by Eurostat show.

    On a yearly basis the Cypriot debt increased by 15.2%. Excluded from international markets since May 2011, Cyprus last March received a €10 billion financial assistance package from its international lenders. So far it received two tranches totaling €4.5 billion.

    Bailed out Greece continues to register the highest public debt both in the euro area as well as the EU, with 169.1% of GDP in Q2 2013, up by 19.9% year on year, followed by Italy with 133.3% of GDP followed by bailed out Portugal with 131.3% up by 13.2% on an annual basis and fellow bailed out Ireland with 125.7% of GDP marking in increase of 15.5% year on year. Public debt in Spain, whose banking system follows a consolidation process, accelerated by 14.7%.

    [02] Defence Minister: Natural resources an incentive for a Cyprus solution

    Cyprus' natural resources in its Exclusive Economic Zone (EEZ) should be exploited to the benefit of all people of Cyprus, peace and security in the region but also they should constitute an incentive for the achievement of a solution of the Cyprus problem, Minister of Defence Fotis Fotiou has said.

    Speaking during a meeting he held with Deputy Minister of Defence of Armenia, Alik Mirzabekyan, Fotiou also referred to the economic crisis, noting that the government of Cyprus is determined to work hard to restart the economy.

    According to an official press release, Fotiou and Mirzabekyan praised the "long-lasting and excellent relations, which are based on common values and their struggle for survival".

    [03] ILO to help Cyprus in tackling undeclared work, Minister says

    An International Labour Organization (ILO) delegation is currently in Cyprus at the invitation of the Minister of Labour and Social Insurance Zeta Emilianidou to develop an integrated framework for tackling undeclared work which will be ready by October the 30th.

    This was announced by the Labour Minister during her speech at the workshop organized today by Larnaca / Famagusta District Committee of the Cyprus Research Centre ( KYKEM) on the theme: "Tourism in Cyprus: Challenges and Prospects, Proposals - Recommendations`.

    According to an official press release, Emilianidou noted that "in line with our supervisory role, we pay special attention to combating undeclared and illegal employment and ensuring conditions of healthy competition."

    [04] University of Cyprus manages €50 million from EU programmes

    By 2020 the University of Cyprus aspires to be employing 2,000 young students who will be working on research programmes based on EU funding, the Rector of the University Constantinos Christofides has said.

    Speaking to journalists on Wednesday, he talked about an "impressive record" of the University, explaining that currently the University of Cyprus, manages €50 million coming from EU programmes.

    "This has created 500 new jobs for young people", he pointed out.


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