Month: November 2022

The solution of the Cyprus problem could be a win- win situation for all stakeholders, Foreign Minister Ioannis Kasoulides has said, adding that there is a great possibility for this provided that there is political will.

In an interview he gave recently to Aljazeera, the Minister also underlined that the Greek Cypriot side remains faithful to the reunification of the country and referred to the recent agreement between Lebanon and Israel, saying that the Lebanese and Israelis would never have had this agreement without the involvement of the US calling for help from the international community and in particular from countries that can work with Turkey.

Asked about the recent agreement reached between Lebanon and Israel, establishing a permanent Israel-Lebanon maritime boundary. He said that it is an extremely helpful development, noting that Cyprus Exclusive Economic Zone is adjacent to theirs.

Secondly, he stressed the fact that “two parties like Lebanon and Israel who officially are in a state of war and who do not recognise each other, they have managed, through the mediation of the US and I congratulate the US for this, they have reached an agreement”.

This, Kasoulides said, “is a very good example for ourselves and Turkey” and underlined that “Turkey so far has refused that we do a similar kind of negotiation and arrangement in delimitating our respective EEZ with the justification that they do not recognize us. But here is an example that this can be done without a solution of the political problem so they can recognize us”.

“So, we have offered talks, and if these talks fail let us go to The Hague and we are prepared to accept the arbitration of The Hague. The next priority are the needs of our EU partners of natural gas and this has to come before other considerations and this applies both to Turkey and to ourselves,” he noted.

He stressed that “all problems do get solutions and ours will get as well” adding that “our side remains faithful to the reunification of our country, the Lebanese and Israelis would never have had this agreement without the involvement of the US, we need some help from the international community and in particular from countries that can work with Turkey”.

Invited to clarify what kind of help he means, Kasoulides said “diplomatic certainly”.

Asked if he believes the EU should be doing more, he replied “there is room for more”.

Replying to an other question, Kasoulides said that “I can imagine a solution that would be a win- win situation for all stakeholders, the two communities in Cyprus, Turkey, Greece and I think there is a great possibility for this provided that there is political will.”

Replying to questions about the latest effort to solve the Cyprus issue, in Crans Montana, Kasoulides said that we had at that time come so close to reaching a settlement and noted that what was needed was to be re-invited in a couple of weeks and continue from where things were left.

It was a great opportunity, he pointed out, saying that “I think that had it followed suit in the immediate interval after these talks it would have yielded results.”

But he noted that after this the Turkish position had changed by 180 degrees and they have ceased to seek a settlement based on the UN resolutions and they have put a precondition now for the Greek Cypriot side to accept separate sovereignty and equal international status before we sit on the table. He described this precondition as totally unacceptable.

On Cyprus’ energy reserves he said that “we are hopeful that in the midterm, that is to say in a couple of years, because Europe urgently needs natural gas that we will be able to supply and contribute”.

As regards the situation in Ukraine, the Minister said that Nicosia is very sensitive to the issues of territorial integrity, sovereignty and to non annexation of parts of a country to an other, therefore it had to join its EU partners in the response to the Russian invasion.

“We want to be acknowledged -and we are – as a reliable, predictable partner to the EU” he said, adding that Cyprus took part in the unanimous decisions regarding the sanctions and is implementing those sanctions diligently.

He also pointed out that Cyprus had to come a long distance to reach this goal much longer than any other of the partners who already did not have the links that Cyprus has had with Russia.

Replying to other questions, he clarified that Cyprus does not intend to send weapons to Ukraine since “we need them here in Cyprus”. Asked what weapons will Cyprus acquire from the US now that the embargo is lifted, Kasoulides said that this is question for the Ministry of Defence saying that “now they have the American markets as well as other markets, like France, Israel, to consider”.

Replying to a comment from the journalist that the Turks say that this is very alarming, the Cypriot Foreign Minister said: “Are they so afraid of us? Shame on them. A country so big and important, they say they are a big regional power, and for a few weapons that we will buy? I think they are looking for an excuse”.

Source: Cyprus News Agency

The Shipping Deputy Minister to the President, Vassilis Demetriades, is visiting Hamburg where he is holding contacts with executives of shipping companies and financial institutions based in Hamburg.

According to a press release by the Ministry, the Deputy Minister, during his visit, will present the advantages of Cypriot shipping and Cyprus in general as a maritime center, with the aim of creating conditions for attracting new shipping companies to Cyprus and to the Cypriot registry.

In addition, on Wednesday, November 30th, the Deputy Minister will present to the Hamburg maritime community the strategic vision for Cypriot shipping “SEA Change 2030”, while he will also analyze the initiatives that Cyprus is taking at European and international level to effectively address the challenges facing global shipping.

Demetriades will return to Cyprus on Thursday, December 1st.

Source: Cyprus News Agency

In November 2022, economic sentiment in Cyprus deteriorated slightly, as the Economic Sentiment Indicator (ESI-CypERC) decreased by 0.5 points compared with October 2022, according to the Business and Consumer Survey by the University of Cyprus, released Monday.

The small decrease in the ESI-CypERC was driven by weaker business confidence in services, industry, and, to a lesser degree, retail trade.

Moreover, the survey shows that the Services Confidence Indicator declined, as firms’ views on their past and expected turnover worsened while the small reduction in the Retail Trade Confidence Indicator resulted from a deterioration in firms’ assessments of past sales and downward revisions in sales expectations.

The survey further shows that the rise in the Construction Confidence Indicator was driven by improved assessments of the current levels of order books and upward revisions in employment expectations.

The Industry Confidence Indicator decreased, for the second consecutive month, as firms’ assessments of the current level of order books worsened markedly.

The Consumer Confidence Indicator picked up, as most of its components improved. Consumers assessed their recent financial conditions more favourably and revised their expectations about the country’s future economic conditions upwards, UCy Survey reads.

Furthermore, consumers’ intentions to make major purchases in the near future strengthened.

In November, economic uncertainty in Cyprus increased marginally. Uncertainty in retail trade, construction and industry rose, while uncertainty in services remained broadly stable at the levels registered in the previous three months.

Uncertainty among consumers declined further in November.

Source: Cyprus News Agency

Total deposits reached €52 billion in October in Cyprus, while loans dropped to €28 billion, according to data published by the Central Bank of Cyprus, which are included in the November 2022 edition of Monetary and Financial Statistics.

According to a CBC statement, total deposits in October 2022 recorded a net increase of €434.5 million, compared with a net increase of €141.8 million in September 2022. The annual growth rate stood at 0.9%, compared with 0.6% in September 2022. The outstanding amount of deposits reached €52 billion in October 2022.

At the same time, total loans in October 2022 recorded a net decrease of €171.9 million, compared with a net decrease of €110.9 million in September 2022. The annual growth rate stood at 0.9%, compared with 1.4% in September 2022. The outstanding amount of total loans reached €28 billion in October 2022.

Source: Cyprus News Agency

Vice President of the OSCE Parliamentary Assembly Irene Charalambides flies on Monday to the Hague to participate as the OSCE PA Special Representative on combating corruption in a High Level Discussion on combating corruption organized by the governments of Canada, the Netherlands and Ecuador.

According to a House of Representatives press release, representatives of international organizations and international non government organizations dealing with combating corruption will participate in the discussion. These include among others Eurojust, the International Anti-Corruption Academy, Transparency International and the Bazel Institute on Governance.

Source: Cyprus News Agency

The European Commission has approved a 100 million euro Cypriot scheme to support companies and self-employed persons affected by the coronavirus pandemic, under the European Union’s State aid COVID Temporary Framework.

The Cypriot scheme provides for direct grants and is open to companies with up to 50 employees and active in all sectors, with the exception of the financial one, as well as to self-employed persons.

The scheme aims at mitigating the negative consequences caused by business disruption linked to the restrictive measures put in place to limit the spread of the virus.

Grants have been awarded in a period running until 27 November 2020. The eligible beneficiaries were entitled to receive an aid amount ranging from €1,250 up to €6,000, depending on the number of employees.

The Commission found that the Cypriot measure is in line with the conditions set out in the COVID Temporary Framework and that it is necessary, appropriate and proportionate to remedy a serious disturbance in the economy of a Member State.

Source: Cyprus News Agency

President of the House of Representatives Annita Demetriou departs for Athens on Monday, 28 November, to take part in an event marking the 25th November International day for the Elimination of Violence Against Women.

A House press release said Demetriou was invited by Euro MP and vice chairwoman of the European Parliament’s Committee on Women’s Rights and Gender Equality (FEMM) Eliza Vozemberg.

She will be one of the main speakers of the event, including Vozemberg and Olga Kefaloyianni, member of the Hellenic Parliament and chair woman of the Executive Council of the Center for Gender and Equality Policy Studies (CEGEPS).

Demetriou returns home on Tuesday.

Source: Cyprus News Agency

Ankara’s policy is depicted on a daily basis with unspeakable actions and unfounded provocative statements that it will not honour the agreed framework that will lead through dialogue to a fair and viable solution and reunite the island, Defence Minister Charalambos Petrides said on Sunday.

On the contrary, he added, it remains adamantly fixed on an extreme solution approach that has nothing to do with the agreed framework and the Security Council resolutions. At the same time he appealed to the international community to exert pressure on Turkey for de-escalation.

In a memorial service for those who fell at Neapolis in the Turkish occupied Nicosia district, Petrides said the conditions which Turkey is putting forward for a two-state solution as a precondition to return to the negotiating table, torpedoes every effort to resume the procedure and makes any prospect for a solution non feasible.

He said that despite Turkey’s negative attitude and its aggressive stance towards Greece and Cyprus, “we have no other alternative but to defend the rights of our people internationally.”

He urged foreign countries to exert their influence on Turkey in the hope that it will understand and accept that the de-escalation of tension and securing peace and cooperation among eastern Mediterranean countries is to her benefit.

Cyprus has been divided since 1974, when Turkish troops invaded and occupied 37% of its territory.

Source: Cyprus News Agency

President of the Republic Nicos Anastasiades has stated that Cyprus could transport natural gas sooner to the EU if Brussels supported the construction of the necessary infrastructure.

He made the remarks in Sunday’s online edition of the German ‘Welt’ newspaper where he said the EU has already signed an agreement of intent with Israel and Egypt that it wants to support the transport of natural gas from these countries and also from the natural gas resources of Cyprus. This way there could be a mechanism that would encourage business people to construct faster the necessary infrastructure, the President added.

Welt notes that the extraction of natural gas from Cypriot shores is still in the preparatory stage and international companies such as Chevron, Shell, Eni, Total and Qatar Oil are already taking part.

Extraction of natural gas is scheduled to commence in 2027 and that the EU wants to become independent from Russian natural gas and find non-problematic suppliers, it adds.

President Anastasiades said currently, Turkey’s aggressive stance in the Cypriot EEZ is the fundamental obstacle in commencing the production of natural gas.”

He said “Turkey does not recognise the Republic of Cyprus, violates international law of the sea and is carrying out illegal drilling in front of our shores.”

Cyprus has been divided since 1974, when Turkey invaded and occupied its northern third. Turkey does not recognize the Republic of Cyprus, an EU member since 2004, and considers a portion of the island’s exclusive economic zone (EEZ), as its own or belonging to the illegal regime, set up in the northern Turkish-occupied part of Cyprus.

Ankara sent on several occasions its seismic research vessel “Barbaros” to Cyprus’ EEZ, following the Republic of Cyprus’ decision, in 2011, to start exploratory offshore drilling. After May 2019, two Turkish drill ships, “Fatih” and “Yavuz”, conducted unauthorised hydrocarbon drilling activities in the Eastern Mediterranean, at times in areas licensed by Cyprus to international energy companies. A third ship, “Kanuni” was eventually sent to the Black Sea, while Turkish officials announced that the country’s fourth ship, “Abdülhamid Khan” prepares to search for natural gas in the Mediterranean.

In the past, the European Council called on Turkey to abstain from renewed provocations or unilateral actions in the Eastern Mediterranean, in breach of international law. The EU also expressed determination to use the instruments and options at its disposal to defend its interests.

Source: Cyprus News Agency

The inauguration of the new Limassol stadium is an historic day for Cyprus football, said President of the Republic Nicos Anastasiades, in a speech at the opening ceremony on Friday evening.

?he President added that “today is an historic day for Cyprus football and generally sports” as the new stadium is the culmination of efforts that started back in 2014 when the three football teams forged efforts and decided to “give the state the responsibility to construct this really wonderful stadium.”

President Anastasiades said the course was not without obstacles but after eight years the opening of the stadium became a reality.

He also expressed the hope that everyone will contribute to avoid new problems.

“The beginning of the stadium’s construction unfortunately coincided with the pandemic,” President Anastasiades said, noting that “nevertheless it was possible, even with a minimal delay, to be here today to celebrate this day.”

The President said he hoped all will enjoy the stadium away from violence and wished football clubs every progress.

On his part, President of the Cyprus Sports Organisation Andreas Michaelides, said the stadium includes four auxiliary courts for training, locker rooms for footballers and referees, a complete lighting system and stands that can accommodate 10,800 fans.

The modern five-storey building is connected with sports facilities which include a doctor’s office, administration areas and conference rooms, three restaurants, shops and open-air parking for 1,050 cars, press facilities and areas for security personnel.

He also said that shortly, construction around the stadium will be completed to ensure easy and safe access of fans to and from the stadium.

Source: Cyprus News Agency