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Cyprus PIO: News Update in English, 00-01-27
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From: The Republic of Cyprus Press and Information Office Server at <http://www.pio.gov.cy/>
Thursday, 27 January 2000
"Their help has been very significant", he said, adding that "there are many words which can describe the relationship between Cyprus and Greece but action has proved that we are the same people, we have mutual objectives, and we work with each other and are constantly in touch".
The licence will allow the bank to deal primarily in foreign currencies and transact business primarily with other non-resident entities and individuals both in Cyprus and abroad. Banca Comerciala Romana SA IBU will be subject to the supervision and inspection by both the Central Bank of Cyprus and the National Bank of Romania
Currently there are 34 IBUs operating from within Cyprus and 4 Representative Offices of foreign banks in Cyprus. Other foreign banks have expressed a similar interest to establish IBUs in Cyprus and more banking business licences are expected to be granted in the near future.
Mr. Andrews, who was replying to a relevant question by Cypriot MP Mr. Panayiotis Demetriou during yesterday's session of the CoE Parliamentary Assembly held in Strasbourg, also added that the Irish chairmanship is fully committed to advancing the issue.
Replying to a relevant question by British MP Mr. Tom Cox on the case of Loizidou v Turkey, during the deliberations of the Parliamentary Assembly of the Council of Europe held in Strasbourg between 24-28 January 2000, Mr. Schwimmer noted that "the Committee of Ministers therefore adopted an interim resolution in their meeting on 6 October 1999 stressing the obligation undertaken by all contracting States to abide by the judgements of the Court in accordance with Article 53 of the Convention and strongly urged Turkey to review its position and to pay the just compensation awarded in this case in accordance with the conditions set out by the Å.C.H.R".
Mr. Schwimmer also stressed that he discussed the matter with the Turkish Foreign Minister during the Istanbul summit stressing that the full implementations of the judgement is necessary as a fully legal affair and not a political one. As he pointed out a solution is actively sought and the Committee of Deputy Ministers will examine this case again on their next meeting next week on the 2 and 3 of February.
Presenting his credentials, Mr. Toumazis conveyed to Mr. Zedillo the Cyprus government's compliments for Mexico's firm support to the Cyprus cause for a just solution to the Cyprus problem.
He stressed Cyprus/ readiness to further enhance bilateral relations in the fields of commerce, culture and tourism.
From the Republic of Cyprus Press and Information Office (PIO) Server at http://www.pio.gov.cy/