Athens: The Minister of Finance of the Republic of Cyprus, Makis Keravnos, met with the Minister of Economy and Finance of Greece, Kyriakos Pierrakakis, in Athens to discuss the priorities of the Cyprus Presidency of the Council of the EU scheduled for the first half of 2026.
According to Cyprus News Agency, Keravnos emphasized the importance of coordinating economic and fiscal policies among EU Member States within the European Semester framework, considering ongoing geopolitical developments and the challenges from the previous year’s Recovery and Resilience Plan implementation.
Keravnos informed Pierrakakis about Cyprus’s intention to prioritize initiatives to deepen the Capital Markets Union, enhance the European economy’s competitiveness, complete the Banking Union, and promote the digital euro. Additionally, he highlighted Cyprus’s focus on addressing the financing needs of projects aimed at strengthening EU defense and security.
The ministers reviewed the economic conditions in Greece and Cyprus and explored ways to enhance economic cooperation and trade relations, emphasizing competitiveness and investment. They also discussed collaboration within European initiatives to bolster the EU’s strategic autonomy.
Pierrakakis, in his post-meeting statements, expressed concern over the geopolitical developments in the Middle East, stressing the need for diplomacy to prevent destabilization that could affect the global economy, supply chains, and merchant shipping. He assured Cyprus of Greece’s support during its EU Presidency and emphasized the strategic coordination between the two nations, particularly in view of Greece’s upcoming EU Presidency in 2027.
Keravnos expressed satisfaction with the economic performances of both countries and discussed bilateral issues to strengthen economic and trade cooperation, particularly in investment. He noted significant Greek investments in Cyprus’s banking and technology sectors, highlighting mutual benefits.
Earlier, Keravnos also met with Greece’s Deputy Minister of Economy and Finance, Nikos Papathanasis, to discuss the European Commission’s upcoming proposal on the Multiannual Financial Framework post-2027 and the new Cohesion Policy. They emphasized the need for strategic cooperation, particularly for island regions and those facing geopolitical challenges, and committed to maintaining close collaboration within European institutions to promote common priorities effectively.