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Cyprus News Agency: News in English, 09-07-29
CONTENTS
[01] SPOKESMAN - ECHR - FRIENDLY SETTLEMENT - PROPERTY ISSUE
[02] GOVERNMENT - BRITISH COURT - ILLEGAL FLIGHTS
[03] CENTRAL BANK - ECONOMY
[01] SPOKESMAN - ECHR - FRIENDLY SETTLEMENT - PROPERTY ISSUE
Government Spokesman Stephanos Stephanou has said that the fact that
the European Court of Human Rights (ECHR) has endorsed a friendly
settlement reached between Greek Cypriot Andromachi Alexandrou and the
so called compensation commission in Turkish occupied areas does not
constitute recognition of the ``legality`` or the ``effectiveness`` of
the commission.
Stephanou said that in its judgment on the merits of the case which
originated in an application against the Republic of Turkey by
Alexandrou, the ECHR held that there had been violations of the Human
Rights Convention, but the applicant chose to make a compromise.
He also noted that this compromise does not determine the time when
part of the applicants property, the restitution of which Turkey
accepted, will be returned to her and that there is no arrangement as
to how it will be restituted or if the applicant will be able to use it
freely.
[02] GOVERNMENT - BRITISH COURT - ILLEGAL FLIGHTS
Government Spokesman Stephanos Stephanou has expressed the satisfaction
of the Republic of Cyprus over a ruling of the Administrative Court of
the High Court of Justice, Queens Bench Division, of the United Kingdom
which dismissed an application for judicial review brought by two
companies against the decision of the British Secretary of State for
Transport to refuse their applications for the granting of permits to
conduct direct flights between the UK and an airport operating
illegally in the occupied area of the Republic of Cyprus.
Stephanou described as very important the fact that the court noted the
UKs obligation to respect the rights enjoyed by the Republic of Cyprus
as a Contracting Party to the Chicago Convention on International Civil
Aviation and the UKs obligation not to recognise the self-styled
Turkish Republic of Northern Cyprus and acts emanating from such
non-recognized entity.
[03] CENTRAL BANK - ECONOMY
Loan to deposit ratio of the Cypriot financial institutions
deteriorated due to the slowdown of the economy, in the mid of the
global financial crisis, figures released by Cyprus Central Bank (CCB),
show.
According to CCB`s Monetary and Financial Statistics for June 2009,
total deposits to Cypriot financial institutions on June 2009,
including Government deposits of approximately 2.8 billion euro reached
58.13 billion euro representing an increase of 6.94% compared to 54.35
billion euro in June 2008.
Total loans increased by 21.75% to 56.85 billion euro, while in June
2008 total loans stood at 46.70 billion euro
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