articles | 24 June 2020 | ServPRO Accountants & Consultants

Cyprus President asks EU for further economic support

During a teleconference with his European counterparts last Friday, President Nicos Anastasiades underlined the need for a timely adoption of the new EU budget in the framework of the European Council. The President elaborated on the major challenges of the Cypriot economy in the aftermath of the pandemic and kindly requested further EU support.

Cyprus government’s spokesman, Kyriacos Koushos, said in a written statement that the discussion focused mainly on the European Commission proposal for the new Multi-annual Financial Framework for 2021-2027, which includes the proposed Recovery Plan to support the economies of member states to deal with the aftermath of the pandemic.

His statement also notes that: “participants discussed issues, such as the total budget, the allocation of funds per sectoral policy, funding of EU priorities as well as the timeframe for negotiations, which has changed due to the coronavirus pandemic.”

While emphasizing the need for the timely adoption of the new budget, President Anastasiades thanked the European Commission for its proposal and expressed his conviction for the positive outcome of negotiations.

He further noted that “the final agreement must first and foremost meet the expectations of all European citizens and provide the EU with the ability to effectively deal with all ongoing and future challenges, while underlining the need to show solidarity in particular with the member states that have been hit the most from this unprecedented public health emergency.”

Anastasiades presented the positions and demands of the Republic of Cyprus, by detailing the country’s particularities as an EU island country, and its connectivity problems. He also referred to the major challenges the Cypriot economy is currently facing, as well as the need for further support from the EU, since key sectors, such as tourism and services, have been badly hit due to the pandemic

Finally, the President stressed that, in relation to EU funds for member states and Third Countries, those will need to be accompanied by clear conditions concerning the respect for the rule of law and above all, respect for the sovereignty and the sovereign rights of all member states.




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