Posts tagged with "European Commission"

House releases funds for tougher checks on passport buyers Cyprus

House releases funds for tougher checks on passport buyers

April 15th, 20192035 The House finance committee on Monday released €1.4m that will be used to hire a specialised firm to carry out enhanced due diligence on people who apply for Cypriot citizenship as part of the island’s investment programme. Cyprus has been heavily criticised over its citizenship-by-investment programme, which the EU said lacked...
European Commission funding for bicommunal committees Cyprus

European Commission funding for bicommunal committees

April 10th, 20191083 A European Commission mechanism offering financial support of the bicommunal technical committees to the tune of €1 million over two years has been set up. The money will go towards funding projects and consultants. The co-presidents of the bicommunal technical committees were informed on Wednesday on the application procedure...
Handling of co-op bank ‘not too bad’ Cyprus

Handling of co-op bank ‘not too bad’

April 2nd, 20192838 Decisions regarding the co-op bank in Cyprus might have been different, a senior European Commission official told MPs on Tuesday, but noted that the option eventually settled upon was “not too bad.” “Now with the benefit of hindsight we might have done things differently and decided differently, but I think all in all the...
Risks seen from Gesy, public wage bill Cyprus

Risks seen from Gesy, public wage bill

March 22nd, 20191689 DESPITE ITS strong growth, the Cypriot economy still has key vulnerabilities, like the high level of bad debts, which could be compounded by the worsening external environment, EU officials said on Friday. According to European Commission staff who conducted the sixth post-programme surveillance mission in liaison with staff from the...
EU Commission lists ‘excessive imbalances’ in Cyprus’ economy Business

EU Commission lists ‘excessive imbalances’ in Cyprus’ economy

February 27th, 20192585 Cyprus faces ‘excessive’ budgetary imbalances, the European Commission said on Wednesday in its winter package report approved by the College of Commissioners and presented in Brussels by Vice-President Valdis Dobrobowski, Commissioner Moscovici and the Commissioner Tysen. In the category of countries with "excessive imbalances",...
EC funding coming through for park linking both sides Cyprus

EC funding coming through for park linking both sides

January 24th, 20193027 The go-ahead has been given for the construction of a five-kilometre linear park along the Pedieos River in the north aiming to bring the two communities together through recreational activities. The European Commission (EC) announced on Thursday the signature on a number of agreements for the improvement or creation of infrastructure...
Estia green light from Brussels, not considered ‘state aid’ Property

Estia green light from Brussels, not considered ‘state aid’

December 3rd, 20184076   The European Commission on Monday approved, under EU state aid rules, Cyprus’ controversial Estia scheme to support private households and small businesses that have encountered difficulties in repaying mortgage loans and risk losing their primary residence. The scheme, which the commission said has an annual budget of...
EU executive rejects Italian 2019 draft budget Europe

EU executive rejects Italian 2019 draft budget

October 23rd, 20181119 The European Commission rejected on Tuesday Italy's draft 2019 budget because the plan breaks EU rules in an "unprecedented" way and asked Rome to submit a new one within three weeks or it would face disciplinary action The decision by the European Union executive arm is the first time it exercises the power, obtained during the...
EU official holds meetings over cybercrime Crime

EU official holds meetings over cybercrime

July 16th, 20181746 European Commissioner for the Security Union Julian King is set visit Cyprus on Tuesday and meet with Justice Minister Ionas Nicolaou. The two are set to discuss security related issues such as the fight against terrorism, organised crime and cyber security. According to a press release by the EU Commission, King will have a...
European Commission sees rising fiscal risk in Cyprus Cyprus

European Commission sees rising fiscal risk in Cyprus

July 6th, 20186114 Fiscal risks to Cyprus’ outlook have increased considerably due to the uncertainties surrounding the sale of the Cyprus Cooperative Bank and the associated government bond issuance, the European Commission said in its post-programme surveillance report. “The macroeconomic situation and outlook remain very positive although the...
EU parliament urges Commission to act against Poland Europe

EU parliament urges Commission to act against Poland

June 14th, 20181352 Five of the main political groups in the European Parliament urged the European Commission on Thursday to open infringement proceedings against Poland and to take it to the European Court of Justice to stop planned judicial reforms. The call by the leaders of the centre-right European People's Party, the centrist Liberals, the...
Former English School student back for presentation School news

Former English School student back for presentation

June 6th, 20181877 EU Back to School is an inter-institutional initiative whereby European Union officials go back to their former secondary school in their hometown, and discuss their work and Experiences in the EU. Irene Kyriacou Haller visited her old school, Nicosia English School. She presented her work during a Year 3 assembly and then had an...
EU Commission regrets Afrika violence Cyprus

EU Commission regrets Afrika violence

May 3rd, 20182784 The European Commission is aware of the intimidation of Turkish Cypriot newspaper Afrika and regrets the violence of protesters against the newspaper’s offices, EU Commissioner Johannes Hahn said in a written response to a question submitted by MEPs. “Harassment and intimidation of journalists constitutes a violation of freedom of...
EU officials on visit to monitor use of fragile protected areas Cyprus

EU officials on visit to monitor use of fragile protected areas

April 25th, 20182308   In the wake of heated protests over development in a protected area near Peyia, representatives of the environmental branch of the European Commission are in Cyprus for two days to discuss how to protect fragile protected species and habitats in Natura 2000 areas on the island. The visit on Wednesday and Thursday aims to...
Cyprus cannot afford to become complacent, EU officials tells MPs Cyprus

Cyprus cannot afford to become complacent, EU officials tells MPs

April 24th, 20183466 Despite the economic recovery, Cyprus cannot afford to get complacent in regard to necessary structural reforms, a senior European Commission official told local MPs on Tuesday. “Cyprus is in a comfortable position, with high growth, new jobs, the fiscal position is under control, non-performing loans remain at high levels but are...
Harshly critical, EU tells Turkey to commit to neighbourly relations Cyprus

Harshly critical, EU tells Turkey to commit to neighbourly relations

April 17th, 20184527 The European Commission on Tuesday urged Turkey to commit itself unequivocally to good neighbourly relations and the peaceful settlement of disputes, while the EU’s top official said the country if moving rapidly away from the path of European Union membership as Brussels delivered its harshest criticism yet of Ankara’s shift towards...
Government aims to double industry’s share of GDP by 2030 Business

Government aims to double industry’s share of GDP by 2030

April 16th, 20183560 The government on Monday announced the launch of a long-term industrial strategy policy, aiming to double industry’s share of gross domestic product by the year 2030. The strategy was unveiled at a colloquium in Nicosia under the rubric ‘Designing the industry of the new era’. “Our main objective, in implementing our new...
Commission pledges to act to ensure safety from power plant in Turkey Cyprus

Commission pledges to act to ensure safety from power plant in Turkey

April 9th, 20182944 The European Commission is aware of Turkey`s plans to build a nuclear power plant in Akkuyu, following the announcements made by Turkish President Recep Tayyip Erdogan and Russian President Vladimir Putin, and will act to ensure "the safety of European citizens", the Commission's spokeswoman Anna Kaisa Itkkonen said on Monday, responding...
Energy, security, terrorism and migration, top Varna Summit agenda Turkey

Energy, security, terrorism and migration, top Varna Summit agenda

March 26th, 20182856 "Cooperation in energy, security, the fight against terrorism and migration management and the EU's assistance for refugees in Turkey as the EU-Turkey Statement continues to deliver results", will be the main aspects of the EU-Turkey meeting to take place later today in Varna (Bulgaria), hosted by Prime Minister Borissov, according to a...
Use of foreclosure in Cyprus weak says European Commission Cyprus

Use of foreclosure in Cyprus weak says European Commission

March 13th, 20183671 Private debt in Cyprus continues to be among the highest in the EU, in no small part due to the limited use of the insolvency and foreclosure frameworks, the European Commission has said. Reporting on Cyprus in its 2018 European Semester review, the Commission said the debt held by non-financial corporations and households decreased...
UCy doctoral teaching and research staff take fight to Brussels Cyprus

UCy doctoral teaching and research staff take fight to Brussels

February 13th, 20182157 The union of adjunct doctoral teaching and research staff (Dede) at the University of Cyprus has taken its demands for better working conditions to the European Parliament, it was announced on Tuesday. Ensuring decent working conditions for young scientists is a guarantee to improve and broaden the research and teaching framework and...
EU Commission expects growth to moderate at 3.2% this year Cyprus

EU Commission expects growth to moderate at 3.2% this year

February 7th, 2018721 The European Commission said that it expects economic growth in Cyprus to moderate to 3.2 per cent this year and to 2.8 per cent in 2019 after reaching 3.8 per cent in 2017. “The economy’s robust performance can be attributed to strong private consumption and solid export growth, as well as some support from public consumption,”...
European Commission launches cohesion consultation Cyprus

European Commission launches cohesion consultation

January 13th, 20182683 The European Commission launched this week a public consultation on EU funds in the area of cohesion policy. The objective of this public consultation is to collect the views of all interested parties on how to make the most of every euro of the EU budget. The feedback provided through the consultation is essential for the future...
Innovative solutions for non-performing loans Cyprus

Innovative solutions for non-performing loans

November 12th, 20174952 By Erol Riza   One may be forgiven for wondering why there is a sudden interest by various stakeholders and economists in the persistent problem of non-performing loans (NPLs). Gross NPLs are in excess of €20 billion, or more than 100 per cent of gross domestic product, the highest in the EU. The politicians who claim...
The fuel no-one wants but the government must sell Cyprus

The fuel no-one wants but the government must sell

October 8th, 20176755 A new waste management scandal is brewing, this time over the waste treatment unit in Pentakomo, in the Limassol district, which is slated to open on October 28. Just weeks before it opens no buyer has yet been found for the fuel the waste treatment plant will be producing, and it was only last week that the government rushed to...
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