Brussels: Cyprus supports increased spending for defence in the EU, Finance Minister Makis Keravnos stated upon his arrival at the Economic and Financial Affairs Council (ECOFIN) meeting in Brussels. He emphasized that spending should prioritize European industries and countries deemed friendly, explicitly excluding those occupying European territory.
According to Cyprus News Agency, Keravnos highlighted the necessity for the EU to advance its strategic autonomy and bolster its defence capabilities, ensuring economic resilience. He reiterated Cyprus’s backing for enhanced EU defence spending to achieve strategic independence.
Keravnos stressed that defence expenditure should be primarily allocated to European industries and partnerships should be established with countries regarded as allies. He firmly stated that defence spending should not be directed towards countries occupying European land.
Before the ECOFIN meeting, Keravnos represented Cyprus in the annual economic and financial dialogue with regional partners. This participation is part of Cyprus’s upcoming role as one of the two countries to assume the Presidency of the Council of the EU in the next year.
The Council was represented by the current Presidency holder, Poland, and the incoming one, Denmark, which precede Cyprus. The dialogue included Western Balkans countries, Turkey, Moldova, Ukraine as an observer, the European Commission, and the European Central Bank.
Cyprus has been divided since 1974 when Turkey invaded and occupied its northern third. Efforts for peace through UN-led negotiations have repeatedly stalled, most recently in July 2017 at the Crans-Montana talks, due to persistent Turkish opposition to proposed solutions.