President Nicos Anastasiades said there was no need to panic, following the result of the British referendum.
He said he respected the result since it represented a popular mandate.
“Secondly, let’s not start panicking; we have some special relations with Britain through the Commonwealth, there is a procedure that is followed for exit, consequently there is ample time to see what the relations with the EU would be after exit,” Anastasiades said.
“No one wants to maximize the problems, therefore there must be respect, on one hand, and calm, on the other.”
He said Cyprus will wait and see how the situation developed as Britain entered a dialogue with the EU.
“We have significantly deepened our relations with the UK, we’ll see how the situation develops, — even if it is outside the EU it will take some time – in relation with everything that will be agreed.”
Ruling DISY said the decision was a negative development though its immediate effects were limited and manageable.
In a written statement, DISY spokesman Prodromos Prodromou said it was difficult to understand how Brexit would yield positive results for Great Britain and its people.
But it should prompt reflection in the EU that must make the necessary adjustments to reinforce the idea of a united Europe.
“The Republic of Cyprus and the rest of its partners in the EU will contribute positively towards tackling any effects,” Prodromou said.
He added that it would take at least two years for the necessary talks to be completed, giving time “to study all the aspects in depth and make any adjustments necessary.”
The DISY spokesman said any immediate financial effects on Cyprus will be limited.
“We can deal with the situation calmly and examine the next steps,” he said. “At the same time, we must note that Cyprus will continue to have special relations with Britain due to our participation in the Commonwealth, while the connecting link continued to be the large Cypriot community in England, and the permanent residency of a lot of Britons in Cyprus.”
DIKO said the decision should cause concern in Europe and beyond.
“It is the first time the people of an EU member state declares that it wishes to leave the union, and it is obvious there will be effects on all levels and mainly to the course of European integration, which was dealt a critical blow,” DIKO said.
AKEL spokesman Stephanos Stephanou said the decision must first of all make EU leaders reflect on the policies followed by the union and their effects on the people.
“We hope the Cypriot government has already studied and it is prepared to tackle any effects,” he said.
EDEK said the result created new realities for the EU, especially regarding the relationship between Cyprus and Britain.
The party said it expected the government to be prepared ahead of the exit negotiations, both on bilateral and European levels.
EDEK said the finance minister must carry out all required actions that will mitigate potential effects of the Brexit.
“Concerning the European Union, the result of the referendum once more highlights the huge institutional problems and democratic shortfalls of the union, which failed to tackle the economic and migrant crisis, and provide an alternative prospect to the peoples of Europe.”