Nicosia: Cyprus’ Minister of Finance, Makis Keravnos, and the President of the European Economic and Social Committee (EESC) Employers’ Group, Stefano Mallia, engaged in discussions on Tuesday concerning the need to speed up efforts to deepen capital markets within the European Union and to lessen administrative burdens, as stated by the Ministry of Finance.
According to Cyprus News Agency, Keravnos hosted Mallia at the Ministry of Finance during his visit to Cyprus. The meeting focused on exchanging views regarding the priorities set before the Ecofin Council, in anticipation of Cyprus taking on the Presidency of the Council of the EU in the first half of 2026.
During the discussions, both officials concurred on the necessity of enhancing efforts to reduce the administrative load and the obligations tied to report submissions, as dictated by current European legislation. The aim is to boost the competitiveness of businesses within the EU, with particular attention to small and medium-sized enterprises and start-ups. Additionally, they emphasized the urgency to deepen EU capital markets to improve financing conditions for these enterprises. It was agreed that there should be close cooperation both before and during the Cyprus Presidency to achieve these goals.
The EESC, as an EU advisory body, comprises representatives from employers’ and workers’ organizations, along with other interest groups such as farmers and consumers. It serves as a conduit between the EU’s decision-making bodies and its citizens, providing opinions on EU legislative proposals. Mallia was joined by Michalis Antoniou, Director General of the Cyprus Employers and Industrialists Federation, and Manthos Mavrommatis, Honorary President of the Cyprus Chamber of Commerce and Industry, as part of the EESC’s Employers’ Group.