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Cyprus News Agency: News in English, 07-01-30

Cyprus News Agency: News in English Directory - Previous Article - Next Article

From: The Cyprus News Agency at <>


  • [02] CYSE - MARFIN


    Government Spokesman Christodoulos Pashiardes described the announcement made by the Turkish Foreign Ministry regarding Cyprus intentions to proceed with the exploration and exploitation of possible oil reserves in its exclusive economic zone, as ``a flagrant threat against Cyprus, Lebanon and Egypt``.

    Todays written statement by the Turkish Foreign Ministry regarding the decision of the Cyprus government to start procedures for oil or natural gas extraction in its exclusive economic zone, constitutes not only an unacceptable provocation, but also a flagrant threat against Cyprus, Lebanon and Egypt as well as against peace and stability in the area, Pashiardes stresses.

    In a written statement issued this afternoon, the Spokesman points out that Turkeys demands to assert rights and interests regarding the oil and natural gas reserves at the exclusive economic zone of the Republic of Cyprus are not backed by the international law or the international rules.

    Pashiardes says that the illegal administrations of the pseudostate (in Turkish occupied Cyprus) are not legitimized to have a say in an issue that is only on the legal Cypriot government to decide.

    The solution of the Cyprus problem, an issue that is mentioned in the Turkish FMs statement, does not depend on the oil or natural gas extraction, but on the good intentions and political will of the involved parties, he says.

    Pashiardes adds that the Turkish side has to prove in deeds its good intention and political will and not resort to its favorite method of blackmailing and threatening.

    The Republic of Cyprus has signed agreements with Egypt and Lebanon regarding the boundaries of their exclusive economic zones in the Mediterranean Sea.

    The Turkish Foreign Ministry said in its statement that the countries and companies, which think of launching oil and natural gas exploration under null and void licenses to be given by the Greek Cypriot administration, should take into consideration the sensitivity of the situation and will of Turkish Cypriots who are the other founder nation on the island.

    These countries and companies should not launch any initiatives that may have a negative impact on settlement of Cyprus problem, the MFA said.

    The Republic of Cyprus is an EU member state since 2004. Cyprus is occupied since 1974 when Turkish troops invaded and occupied one third of its territory.

    Turkey is the only country in the world not to recognize the Republic of Cyprus.

    [02] CYSE - MARFIN

    The Cyprus Stock Exchange (CySE) decided today that it can not examine the public bid documents submitted by Marfin Popular Bank (MPB) for the acquisition of Bank of Cyprus, stating that Marfins bid was preceded by Greek Bank of Piraeus public offer to acquire MPB.

    ``The board of the Cyprus Stock Exchange decided it cannot examine the public bid documents of MPB for the acquisition of 35-100% of the share capital of Bank of Cyprus, since it was preceded by the submission of an announcement by Piraeus Bank of a public offer to acquire between 40-100% of MPB Ltd,`` the Stock Exchange statement said.

    The board of the Cyprus Stock Exchange examined today the two public bid documents and decided to accept the public bid document of the Piraeus Bank, but at the same time not to accept MPBs public bid documents, since Marfins move is prohibited by regulation 21 of the Cyprus Stock Exchange regulations (regarding mergers and acquisition).

    Cyprus News Agency: News in English Directory - Previous Article - Next Article
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