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Cyprus News Agency: News in English, 09-07-13

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

From: The Cyprus News Agency at <>




    The Republic of Cyprus will defend the legal interests of its citizens, Greek Cypriots or Turkish Cypriots, before the European Court of Human Rights (ECHR), Government Spokesman Stephanos Stephanou has said.

    The Spokesman was invited to comment on press reports that a number of Turkish Cypriots, who have real estate in the areas controlled by the Republic of Cyprus, have filed an application against the Republic alleging violation of their property rights.

    Asked whether the ECHR has asked the government to submit its defence, the Spokesman said that that it is too soon for that, noting that the issue was made public last Wednesday.

    Stephanou recalled that the Turkish invasion of Cyprus took place in 1974 and since then one third of the Cypriot territory is under Turkish occupation and said that as a result of the abnormal situation caused by the Turkish invasion, Turkish Cypriots moved to the northern areas of Cyprus.

    The Republic of Cyprus, in order to protect the interests and the rights of the legal owners (Turkish Cypriots) over their properties, has set up on the basis of existing legislation, the institution of the Guardian (of the Turkish Cypriot properties), he said.

    Stephanou explained that the Guardian has the obligation to protect and serve the rights of Turkish Cypriots over their properties, pointing out that the Republic of Cyprus protects in this way practically and legally the rights of all its citizens.

    The Republic of Cyprus, he went on to add, will defend before the ECHR the legal interests of its citizens, Greek Cypriots or Turkish Cypriots.


    The European Investment Bank (EIB) and Cyprus three biggest banks, Bank of Cyprus (BOC), Marfin Popular Bank (MPB) and Hellenic Bank (HB), have signed loan agreements totalling 228 million euros aiming to offer cheap and long term loans to the islands small and medium size enterprises (SMEs) as part of a broader policy to boost liquidity of European SMEs.

    The agreements were signed in the presence of Finance Minister Charilaos Stavrakis by EIB Vice President, Plutarchos Sakellaris, responsible for operations in the African, Caribbean and Pacific countries (ACPs) and chief executives of the three Cypriot commercial banks.

    As part of the deal, 120 million euros will go to the Bank of Cyprus, Marfin Popular Bank will draw 50 mln euros and Hellenic Bank another 58 mln euros. The three banks will also have to match the EIB facility with their own funds. Access to the funding will be given to SMEs in the sectors of agriculture, industry, commercial services and tourism. Additionally, MPB will offer 80 miln euros loans to Greek SMEs, having signed a separate agreement with EIB through Marfin Egnatia Bank.

    Finance Minister Charilaos Stavrakis described the signing of the agreements as extremely important and underlined the significance of cheap funding and liquidity for the Cypriot enterprises and especially the small and medium size enterprises which are the backbone of the Cyprus economy.

    Stavrakis referred to the impact of the global financial crisis on the Cypriot economy, noting however that Cyprus still is the best performer in the EU and the only member state to record positive growth rate, the second best unemployment rate and healthy public finance.


    Cyprus has made it to the final phase of the Davis Cup for the first time in its history, after beating Ireland 3-2.

    In September, Cyprus will look for promotion to Zone I of the Euro/Africa Zone I of the World Tennis Cup.

    Two countries will win promotion to the First Division of the Euro/Africa Zone.

    Cyprus will play against Finland, which had defeated Monaco with 3-2, while the showdown will take place in Helsinki between 18-20 September.

    On Sundays first and decisive game, Cyprus tennis champion Marcos Baghdatis beat Conor Niland, Irelands number 1, with 3-1 set (4-6, 6-3, 6-1, 6-3) giving Cyprus the victory in Davis Cup.


    Cyprus will host the 2012 European Shooting Games for the third time.

    The Games were successfully held in Cyprus back in 2004 and 2008.

    According to a relevant press release, this decision was taken by the General Assembly of the European Shooting Confederation (ESC), which was held in Osijek, Croatia, on 10 and 11 July.

    Cyprus had to compete with France and Finland, which also claimed to host the 2012 Games. It won the bid to host the Games, given that it had managed to successfully host the Games twice before in the past, the press release adds.

    Cyprus secured 45 of the votes, Finland 30 and France 11.

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