Finance Minister Makis Keravnos met with European Securities and Markets Authority (ESMA) chair Verena Ross on Thursday, in order to discuss the upcoming Cypriot presidency of the Council of the EU.

The pair exchanged views on priorities regarding the promotion of policies aimed at strengthening financial stability within the European Union, according to an announcement from the Finance Ministry.

Their dialogue also covered the ongoing efforts toward the integration of financial markets and the oversight of those markets.

Moreover, Keravnos lauded Ross’ efforts and leadership in a rapidly evolving economic environment.

He said that the work she has carried out “strengthens the stability, integrity, and reliability shown by European markets during an era defined by complexity, digitisation, and geopolitical challenges”.

The Cypriot presidency will handle the legislative file regarding an enhanced and more effective role for ESMA with due attention, Keravnos explained.

This approach will be “guided by proportionality, risk-based supervision, and meaningful supervisory convergence“, the minister added.

Finally, the minister expressed his gratitude to Ross for her attendance at the events marking the 30th anniversary of the Cyprus Securities and Exchange Commission (CySEC).