Cyprus Mail

‘New prospects for development’

British Prime Minister David Cameron (l) invited President Anastasiades to London early next year

By George Psyllides

PRESIDENT Nicos Anastasiades has won a 95 per cent EU contribution in co-funded projects, through the Multi-Annual Financial Framework between 2014 and 2017.

This means that for every €100 for a project, €95 will come from the EU, without changing the total sum for Cyprus, €874 million, for the period 2014-2020.

Speaking at a news conference in Brussels, Anastasiades said this opened new prospects for development projects which would give the economy a boost with the creation of new jobs, adding that the 95 per cent EU funding might be extended for a few more years.

The EU’s current share is 50 per cent.

Anastasiades said Cyprus` aim was to submit an action plan to the European Commission by the end of December 2013, with measures that would facilitate the creation of new jobs.

He pointed out that the employment of young people was his administration’s top priority.

During discussions on the Economic and Monetary Union, Anastasiades pointed out the importance of its social aspect for Cyprus, noting that EMU policies should be linked to policies aiming at addressing unemployment and social exclusion.

Regarding the Banking Union, he said Cyprus has always been in favour of regulations to break the vicious circle between banks and states, so that the public debt was not burdened.

He said the new capital regulations for banks and the new banking supervision mechanism would play a significant role in securing the stability of the banking sector.

On Thursday, Anstasiades met German Chancellor Angela Merkel, whom he briefed on the latest developments in the Cyprus problem.

He pointed out the importance of EU involvement in efforts to reach a settlement and of creating a new dynamic through confidence-building measures.

According to the president, Merkel showed understanding about the Cyprus issue and congratulated Cyprus on efforts aimed at the recovery of the economy. The German leader said her country was ready to provide further support to Cyprus.

On Friday, before the summit, Anastasiades met with French President Francois Hollande, whom he briefed on the Cyprus issue.

Anastasiades said Hollande shared Cyprus` view about the importance of an upgraded EU role in efforts to reunite the island.

The president also discussed the Cyprus issue with British Prime Minister David Cameron, and they agreed to continue their talk in Colombo, Sri Lanka, on November 15, on the sidelines of the Commonwealth summit.

Cameron invited the Cypriot President to visit London in early 2014.

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