Category: Cyprus News Agency

The Ministry of Finance has announced that ‘the Republic of Cyprus (rated A3 stable by Moody’s, A- positive by S and P, A- positive by Fitch and A stable by DBRS) has mandated Barclays, J.P. Morgan, Morgan Stanley and Societe Generale to lead manage a EUR-denominated Reg S 10-year Bond benchmark offering, maturing in January 2036.’

According to the announcement, the Bank of Cyprus is also acting as Co-Manager on this transaction.

‘The transaction is expected to be issued in registered form under the Republic’s EMTN Programme and is expected to be launched in the near future subject to market conditions,’ the Ministry adds.

Following the decision to apply its so-called ‘urgency procedure’, MEPs will vote on a proposal for a pound 90 billion support loan to Ukraine at an upcoming plenary session.

On Tuesday Parliament backed, by a show of hands, a request to fast-track its legislative processes on an EU financial package to support Ukraine. The proposal would introduce a pound 90 billion EU support loan for Ukraine, financed through common EU borrowing from capital markets and guaranteed by the so-called ‘headroom’ of the EU budget. This new instrument, if adopted, would provide military assistance and general budget support to the government in Kyiv, as well as support Ukraine’s defence industry and its integration into the European Defence Industrial Base.

In parallel, MEPs also decided to fast-track their work on an accompanying proposal to amend the so-called Ukraine Facility and on the decision by the Council to apply the enhanced cooperation procedure to enable 24 member states (excluding Czechia, Hungary and Slovakia) to provide Ukraine with the above-mentioned loan. The latter proposal will be put to a final vote by MEPs on Wednesday, 21 January.

Next steps

With the European Parliament having kicked off its work, the loan will now have to be agreed between MEPs and Council under the ordinary legislative procedure.

Further information

EP Multimedia Centre: free photos, video and audio material

FOR THE PERIOD FROM 1800 20/01/2026 UNTIL 1800 21/01/2026

Atmospheric pressure at the time of issue: 1024hPa (hectopascal)

A cold air mass is affecting the area. The weather will be mainly fine. Tomorrow will become mainly cloudy and isolated showers are expected during the night.

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Time of issue: 0530

Date: 02/01/2026

Members of the parliament raised questions over delays in the natural gas project at Vasiliko, which has been suspended since July 2024, during a meeting of the House Energy Committee on Tuesday. The committee discussed, on its own initiative, the progress of the liquefied natural gas import terminal project.

Energy Minister Michalis Damianos attended the meeting but did not refer to specific timelines for completion of the project, stating that the government’s objective is to proceed with new tendering procedures. He said the government is trying to find a way to continue the project and committed to responding to specific questions at the committee’s next meeting.

The Energy Minister attributed a large part of the delays to public tender procedures, which he said are time-consuming, noting that the legal aspects of the process often take longer than the technical timetable required to complete the project. However, he added that the same applies to interim solutions for the supply of natural gas.

Regarding the FSRU ‘Promitheas’, the Energy Minister said that the vessel, which has come into the ownership of the Republic of Cyprus and is currently located in Malaysia, will be certified once it receives a full cargo. He added that, in any case, there is no jetty in Cyprus for it to be used.

Special Address by President von der Leyen at the World Economic Forum

‘Check against delivery’

President Brende, dear Børge,

Your Majesties,

Your excellencies,

Ladies and Gentleman,

It is now 55 years since the first meeting here in Davos. The idea was to create a platform to discuss the issues and the ideas of the day. Of course, the world has transformed completely since 1971. But the original idea of Davos has remained. So I was delighted that you have gone back to your roots with this year’s theme – A Spirit of Dialogue. Because this spirit is all the more important in a world that is more fractured and more fractious than ever. 1971 was the year of the so-called Nixon shock and the decision to delink the US dollar from gold. In an instant, the foundations of the Bretton Woods System and the entire global economic order – set up after the war – effectively collapsed. But it also had two major effects. It inadvertently created the conditions for what would become a truly global economy. And it provided a sharp lesson for Europe on the need to strengthen its economic and political power. It was a warning to reduce our dependencies – in this case on a foreign currency.

The world may be very different today. But I believe the lesson is very much the same. That geopolitical shocks can – and must – serve as an opportunity for Europe. In my view, the seismic change we are going through today is an opportunity, in fact a necessity to build a new form of European independence. This need is neither new nor a reaction to recent events. It has been a structural imperative for far longer. So when I used this term – European independence – around a year ago, I was surprised at the sceptical reactions. But less than one year on, there is now a real consensus around this. The sheer speed and almost unthinkable scale of the change have driven this – but the underlying imperative is still the same.

The good news is: We acted immediately. Whether on energy or raw materials, defence or digital – we are moving fast. But the truth is also that we will only be able to capitalise on this opportunity if we recognise that this change is permanent. Of course, nostalgia is part of the human story. But nostalgia will not bring back the old order. And playing for time – and hoping for things to revert soon – will not fix the structural dependencies we have. So my point is: If this change is permanent, then Europe must change permanently too. It is time to seize this opportunity and build a new independent Europe.

Ladies and Gentlemen,

This new Europe is already emerging. On Saturday, I was in Asunción to sign the EU-Mercosur trade agreement. It was a breakthrough after 25 years of negotiations. And with it, the EU and Latin America have created the largest free trade zone in the world. A market worth over 20% of global GDP. 31 countries with over 700 million consumers. Aligned with the Paris Agreement. This agreement sends a powerful message to the world. That we are choosing fair trade over tariffs. Partnership over isolation. Sustainability over exploitation. And that we are serious about de-risking our economies and diversifying our supply chains. That is why we will not stop with Latin America. Last year, we reached new agreements with Mexico, Indonesia and Switzerland. We are working on a new free trade agreement with Australia. We are also advancing with the Philippines, Thailand, Malaysia, the UAE – and more. And right after Davos, I will travel to India. There is still work to do. But we are on the cusp of a historic trade agreement. Some call it the mother of all deals. One that would create a market of 2 billion people, accounting for almost a quarter of global GDP. And, crucially, that would provide a first-mover advantage for Europe with one of the world’s fastest growing and most dynamic economies. Europe wants to do business with the growth centres of today and the economic powerhouses of this century. From Latin America to the Indo Pacific and far beyond, Europe will always choose the world. And the world is ready to choose Europe.

Ladies and Gentlemen,

This reality also reflects the fact that Europe has all the assets it needs to attract investment – the savings, the skills, and the innovation. What we need is to mobilise collectively these assets to their full potential. And to focus on the essential. Focal point number one is to create a conducive and predictable regulatory environment. We live in an age where capital or data can cross Europe in a second. And business must be able to move just as freely. But as things stand too many companies have to look abroad to grow and scale up – partly because they face a new set of rules every time they expand into a new Member State. So while on paper the market of 450 million Europeans is open to them, it is far more complicated in reality. And that acts as a handbrake on the growth and profit potential of companies. This is why we need a new approach. We will soon put forward our 28th regime. The ultimate aim is to create a new truly European company structure. We call it EU Inc. We need a single and simple set of rules that will apply seamlessly all over our Union. So that business can operate across Member States much more easily. Our entrepreneurs will be able to register a company in any Member State within 48 hours – fully online. They will enjoy the same capital regime all across the EU. Ultimately, we need a system where companies can do business and raise financing seamlessly across Europe – just as easily as in uniform markets like the US or China. If we get this right – and if we move fast enough – this will not only help EU companies grow. But it will attract investment from across the world.

Which brings me to the second focus – investment and capital. We are now building the Savings and Investment Union. We need a large-scale, deep and liquid capital market that attracts a wide range of investors. This will allow businesses to find the funding they need – including equity – at lower cost here in Europe. We have made proposals on market integration and supervision to ensure our financial market is more integrated. This covers trading, post-trading, and asset management – as well as driving innovation and making our supervisory framework more efficient. This will help ensure that capital flows where it is needed – from scaleups to SMEs, innovation to industry.

Third priority: building an interconnected and affordable energy market. Energy is a chokepoint – for both companies and households. Just look at the dispersion of prices across European electricity hubs. Europe needs an energy blueprint that pulls together all the parts. This is our Affordable Energy Action Plan. We are investing massively in our energy security and independence. To bring down prices and cut dependencies. To put an end to price volatility, manipulation and supply shock. But we now need to speed up this transition. Because homegrown, reliable, resilient and cheaper energy will drive our economic growth, deliver for Europeans and secure our independence.

Ladies and Gentlemen,

Whether on trade or business, capital or energy – Europe needs an urgency mindset. Our starting point is good. We are home to global champions in fields ranging from wind power to next-generation batteries. From aerospace to the industrial machines that are essential to build chips or advanced weapons. Our companies are taking up AI at the same pace as their US peers. Europe is in the race for the key technologies of tomorrow. But as global competition gets ruthless, we must show real ambition – especially in those sectors vital for our independence. Take, defence for example. We have done more on defence in the last year than in decades before. We have started a surge in defence spending – up to pound 800 billion until 2030. Member States are stepping up their investment at record levels. This has helped to triple the market value of European defence industry companies since January 2022. We now have three leading European defence tech startups that have reached unicorn valuation. They are working on AI-powered software and systems for battlefield intelligence. Or on advanced dual-use and surveillance drones. So they are also driving innovation and investment in Europe’s defence-tech-industrial base. All of this would have been unthinkable even a few years ago. This now only shows how economy and national security are more linked than ever. But also what can be done when Europe has the will to match its ambition.

Ladies and Gentlemen,

This need for ambition is most important when it comes to the security of our continent. In just over a month, we will mark the fourth anniversary of Russia’s war of aggression against Ukraine. Four years on, Russia shows no sign of abating. No sign of remorse. No sign of seeking peace. On the contrary. Russia is intensifying its attacks. Killing civilians every day. Just last week, its bombing of Ukraine’s energy infrastructure left millions facing darkness, cold, and water shortages. This must end. We all want peace for Ukraine. We recognise President Trump’s role in pushing the peace process forward, and we will work closely with the United States. Ukraine must be in a position of strength. This is why we decided to provide Ukraine with a loan of pound 90 billion for 2026 and 2027. With this support, we make sure that Ukraine can: bolster its defence on the battlefield; strengthen its defence capabilities; keep basic services running. Above all, it reaffirms Europe’s unwavering commitment to the security, defence, and European future of Ukraine. In parallel, we decided to permanently immobilise the Russian assets and that we reserve the right to make use of them. This should serve as a stark reminder to Russia. And a message to the world: Europe will always stand with Ukraine. Until there is a just and lasting peace.

Ladies and Gentlemen,

I have spoken a lot today about European independence. On partnerships. On prosperity. And security. So I would like to conclude with Greenland. An issue which cuts to the heart of all three of these imperatives. When it comes to the security of the Arctic region, Europe is fully committed. And we share the objectives of the United States in this regard. For instance, Finland – one of the newest NATO members – is selling its first icebreakers to the US. This shows that we have the capability right here, in the ice so to speak. That our northern NATO members have Arctic-ready forces right now. And above all, that Arctic security can only be achieved together. This is why the proposed additional tariffs are a mistake especially between long-standing allies. The EU and US have agreed to a trade deal last July. And in politics as in business – a deal is a deal. And when friends shake hands, it must mean something.

Ladies and Gentlemen,

We consider the people of the United States not just our allies, but our friends. And plunging us into a dangerous downward spiral would only aid the very adversaries we are both so committed to keeping out of our strategic landscape. So our response will be unflinching, united and proportional. But beyond this, we have to be strategic about how we approach this issue. This is why we are working on a package to support Arctic security. First principle: full solidarity with Greenland and the Kingdom of Denmark. The sovereignty and integrity of their territory is non-negotiable. Second, we are working on a massive European investment surge in Greenland. We will work with Greenland and Denmark hand in hand to see how we can further support the local economy and infrastructure. Third, we will work with the US and all partners on wider Arctic security. This is clearly in our shared interest, and we will step up our investment. In particular, I believe we should use our defence spending surge on a European icebreaker capability and other equipment vital to Arctic security. Fourth and in the same spirit – we need to work with all of our regional partners to strengthen our common security. This is why we will look at how to strengthen our security partnerships with partners such as the UK, Canada, Norway, Iceland and others. Finally, I believe Europe needs to adjust to the new security architecture and realities that we are now facing. This is why Europe is preparing its own security strategy, which we plan to publish later this year. As part of this, we are upgrading our Arctic strategy. And at the heart of this will be the fundamental principle: It is for sovereign people to decide their own future.

Ladies and Gentlemen,

When I started preparing for this year’s address, security in the High North region was not the main theme. But in many ways, it feeds into the wider point I started with today. That Europe must speed up its push for independence – from security to economy, from defence to democracy. The point is that the world has changed permanently. We need to change with it.

Long live Europe.

Cyprus’ Finance Minister Makis Keravnos presented the programme of the Cyprus Presidency at the first meeting of EU finance ministers (ECOFIN) in Brussels, setting out the priorities for the coming six months. ‘An autonomous Union open to the world is the motto of our Presidency. Guided by this motto, we are committed to delivering an ambitious and impactful Presidency. We want to build momentum towards a thriving, more competitive Europe,’ Keravnos said.

He underlined that Cyprus is assuming the Presidency ‘at a time of international geopolitical realignments and uncertainty,’ with the European Union facing multiple challenges. ‘In the field of economic and financial affairs, strengthening the European Union’s economic autonomy and reinforcing its economic standing will be our core principles for the next six months,’ the Minister added.

Keravnos also highlighted the specific role of ECOFIN in shaping decisions, stressing that finance ministers would be able to arrive at concrete proposals and decisions within the political direction set by EU leaders.

On legislative priorities, Keravnos stressed that the Presidency intends to advance legislative work on the Savings and Investments Union (SIU), while making sufficient progress on the Capital Markets Union agenda, particularly on initiatives aimed at enhancing competitiveness and completing the integration of the EU banking sector. In the area of taxation, Cyprus will promote the EU programme for the simplification of tax legislation, within the broader efforts to strengthen competitiveness. The Presidency also aims to push forward legislative work towards a modernised Customs Union.

‘A central priority will be to ensure that the EU continues to provide financial support to Ukraine. We are fully committed to ensuring that Ukraine receives the necessary and timely funding to support its defence and help with its future reconstruction,’ Keravnos added.

Referring to Tuesday’s ECOFIN agenda, the minister informed the press of the approval of mainly technical, ‘targeted amendments’ to the Recovery and Resilience Plans of Finland, Germany, Ireland, the Netherlands, Spain and Sweden, in order to accelerate their implementation. As regards the European Semester, no member states were found to require in-depth macroeconomic reviews, and ECOFIN ‘will continue to monitor the situation in the seven countries identified in 2025 as having imbalances.’

Keravnos also referred to the opening of an excessive deficit procedure for Finland, as its public deficit exceeded the Treaty limit in 2024, reaching 4.4%, and is forecast to exceed it again in 2025, at 3.5%. ‘We have asked Finland to report on the progress made in implementing these recommendations at least every six months, in spring through the annual progress report and in autumn through the draft budgetary plan, until the excessive deficit is corrected. Finland should bring the excessive deficit to an end by 2028,’ he said.

On the informal part of the Council meeting earlier in the day, Keravnos said that, ‘in light of recent developments, ministers exchanged views on current economic challenges and political developments,’ including Greenland. ‘The European Union stands firmly alongside Denmark and the people of Greenland. We remain united behind our principles regarding respect for international law and in particular the principles of territorial integrity and sovereignty,’ he said.

‘As you know, leaders will meet here in Brussels on Thursday evening to assess the situation and coordinate on next steps. Finance ministers are ready to take any follow-up action, based on the guidance we receive from our leaders,’ Keravnos added, stressing that ‘it is vital to have a practical and strong European response.’

Asked by CNA on whether intense geopolitical developments would affect discussions at ministerial level regarding the implementation of the Presidency’s programme, Keravnos responded: ‘I think it will affect it, but on a positive manner. We will have to focus more on certain priorities, accelerate procedures and take political decisions as soon as possible on very specific issues, because developments are indeed rapid.’

European Commissioner for Economy Valdis Dombrovskis opened his remarks by expressing confidence in strong cooperation with the Cyprus Presidency, welcoming ‘the important emphasis in the work programme and the focus on competitiveness, defence and the digital euro,’ and noting his willingness ‘to work closely with the Cyprus Presidency to achieve the milestones of the programme.’

On EU-US developments, he stressed that the EU must act with unity and determination: ‘More than ever, our Union needs to show unity, decisiveness and strength, and we need to work on enhancing our competitiveness and defence capabilities,’ said Dombrovskis. Referring to Greenland, Dombrovskis added: ‘We are in full solidarity with Denmark and Greenland. Any questioning of the sovereignty of a member state is unacceptable,’ while noting that ‘we keep all options on the table, but our priority remains constructive engagement with the United States.’

Keravnos complemented the Commissioner’s remarks, pointing out that the issue has both political and economic dimensions, including tariffs. ‘Therefore, finance ministers have a role to play. There are also our colleagues, the trade ministers. We are waiting for the conclusions of the discussion among heads of state so that we can have a concrete basis on which to build our responses and arguments,’ he said, adding that finance ministers ‘will be able to arrive at concrete proposals and decisions within the political direction given.’

On Ukraine, Dombrovskis referred to the proposed pound 90 billion financial support package, which aims to strengthen Ukraine’s fiscal sustainability and defence. ‘This is crucial to ensure a just and lasting peace and real security for Ukraine and Europe in the long term,’ he said, expressing the expectation that the legislative process will be completed by March, allowing first disbursements already in April.

Asked whether, in light of former US President Donald Trump’s tariff threats, the Commission’s stance on European governments purchasing weapons from the US for Ukraine had changed, Dombrovskis replied: ‘Our proposal remains broadly unchanged: priority should be given to producers in Ukraine, the EU and the EEA, as well as countries with security agreements with the EU.’ He added that ‘there is room for derogation if needs cannot be met from Europe, because the priority is to meet Ukraine’s real defence needs.’

As he noted, ‘there is broad agreement on the principle of cascading priority: Europe and its partners first, but the possibility to purchase from other countries if necessary.’

Condolences to the people of Spain

———–

The Minister expressed his deepest condolences to the families of the victims of the tragic train accident that occurred in Andalusia on Sunday, noting that ‘we all stand in solidarity with the Spanish people at this time.’

On Tuesday, Nikos Christodoulides set out Cyprus’s approach for an ‘Autonomous Union. Open to the World’, against the backdrop of an array of global challenges.

Welcoming the President of the Republic of Cyprus, European Parliament President Roberta Metsola highlighted that this is a pivotal time for Europe and the world, noting that we all know that the next six months will not be easy. She stressed that Europe will remain focused on securing its competitiveness and making things easier for families and businesses, while investing in new realities – especially in the areas of security and defence, and in ensuring that Europe’s voice remains strong on the global level. President Metsola reiterated that the EP will always be on Cyprus’s side towards a single sovereign European state: a bicommunal, bizonal federation in line with the UN resolutions and rooted in our shared values and EU law.

President Christodoulides said the Cyprus Presidency begins at a defining moment for the EU, marked by geopolitical instability, geoeconomic competition, war on the continent, and pressures from the twin digital and environmental transitions, as well as migration. He stressed that the international order can no longer be taken for granted and that Europe must respond with unity, deeper integration, and decisive action – choosing cooperation, solidarity, and progress.

Reiterating the Presidency’s central objective for an autonomous and open Union, he pointed out that autonomy is the next stage in European integration, requiring internal strength, competitiveness, security, and firm anchoring in EU values. Citizens, he underlined, expect Europe to protect its borders, defend democracy, and safeguard its way of life, while remaining an open and reliable global partner.

On security and defence, Christodoulides said that Russia’s war against Ukraine has exposed the urgent need to strengthen Europe’s security architecture and defence readiness. He reaffirmed the EU’s unwavering support for Ukraine and stressed that borders cannot be changed by force, whether in Ukraine, Greenland, or anywhere else.

On competitiveness, he argued for a pragmatic agenda focused on investment, innovation, simplification, and support for SMEs, alongside completion of the single market and deeper capital markets.

He also stressed that an autonomous Union must remain open to the world, describing enlargement as the EU’s most powerful geopolitical tool and calling for credible progress with Ukraine, Moldova, the Western Balkans, and Trkiye. He underlined the importance of relations with the Southern Neighbourhood and the Gulf region, an ambitious EU trade agenda, and strong partnerships with the United States and the United Kingdom.

On values and social cohesion, he said the EU must remain a Union that leaves no one behind, with democracy, the rule of law, and fundamental rights protected in practice. He highlighted priorities including affordable housing, tackling child poverty, protecting young people, strengthening the Health Union, and access to essential medicines.

Reactions by MEPs

In their responses, many MEPs welcomed the Cyprus Presidency’s emphasis on European autonomy, security, and unity in a challenging geopolitical context. Several underlined the need for a stronger and more resilient Europe, able to act decisively while remaining open to the world and stressed the importance of deepening integration.

A number of MEPs highlighted Cyprus’s situation as the only EU member state under military occupation, calling for renewed efforts to uphold territorial integrity and international law, and work towards reunification of the island. Enlargement was described by several speakers as a key geopolitical tool for strengthening Europe’s stability and influence.

Migration and competitiveness also featured prominently. Some MEPs called for stronger border controls, effective returns and reduced bureaucracy for businesses, while others stressed solidarity, social cohesion and the need for the EU’s next long-term budget to be fair and people-centred.

You can watch the debate again here.

The number of deaths of hospitalized patients with laboratory-confirmed influenza has reached 13, Deputy Permanent Secretary of Health Ministry Elisavet Constantinou has told the Cyprus News Agency.

On Monday a 54-year-old man passed away in a private hospital, she said, adding that the number of deaths this year is increased.

The majority of the deceased are elderly, over 80 years old, with multiple comorbidities and they were in hospitals since December.

The patients were admitted due to flu and the final cause of death will be confirmed when these cases are fully registered in the surveillance system, she explained. Constantinou moreover said that the World Health Organization has a system which determines the final cause of death but the information so far is laboratory-confirmed flu.

She also said that the figures from the epidemiological surveillance unit show that we have reached the peak of the epidemic and a small recession has begun with a decrease in cases.

Deputy Permanent Secretary of the Health Ministry expressed hope that the picture will keep improving in the coming weeks, adding that the situation is manageable, although there is pressure on both the public and private sectors.

She explained that there are cases of respiratory infections as well that add to the pressure.

Constantinou assured that there is sufficient supply of antiviral drugs and diagnostic tests as the planning takes place every summer, with an assessment of needs and available stock.

She also said that so far 145,000 citizens received the flu shot, from an overall quantity of 160,000 vaccines the Ministry ordered.

But she went on to say that the response for the COVID-19 vaccines is very low. Replying to a question she said that there is still time to get the vaccine for flu as the flu season is still underway.

Constantinou said that two epidemic waves are recorded every year, specifically the first after the Christmas and New Year’s holidays and the second from mid-February to early March.

Regarding the effectiveness of this year’s vaccine, she noted that based on data from the European Centre for Disease Prevention and Control (ECDC), it exceeds 55%. Constantinou went on to say that no vaccine is 100% effective but it usually covers about 65% of the strains circulating in the community.

This year, she said, because of the K substrain of influenza, the effectiveness seems slightly lower, but remains satisfactory.

The Health Ministry’s Deputy Permanent Secretary also ruled out the possibility of taking stricter measures in hospitals or nursing homes, pointing out, however, that instructions were given and a team monitors the situation daily, for the timely detection of clusters.

She finally advised those who have not been vaccinated, especially the elderly, to do so by contacting their GP. She also urged people to observe individual protection measures, such as using a mask in crowded places, avoiding contact with sick people, proper hand hygiene and airing out closed areas.

European integration can not be achieved without the end of the Turkish occupation of Cyprus, the liberation and the reunification of the island, President of the Republic, Nikos Christodoulides, stressed Tuesday in his follow up remarks before the European Parliament in Strasbourg, where he presented the priorities of the Cyprus Presidency of the Council of the EU.

Responding to the interventions of Members of the EP, President Christodoulides referred to the Cyprus issue, migration, Schengen, enlargement, the Middle East, transparency and the Multiannual Financial Framework.

Cyprus Issue

————-

European integration, he said, requires the end of the Turkish occupation, the liberation and the reunification of Cyprus on the basis of the relevant UN resolutions, for a solution of a bizonal, bicommunal federation, a solution that must be in accordance with the legislation, principles and values of the EU, the President stressed.

He noted that Cyprus will continue to be an EU member state after the solution of the Cyprus issue and welcomed again the fact that for the first time a representative of the President of the Commission has been appointed in relation to the Cyprus issue, “who can help us because the EU has the tools and means to lead us to a mutually beneficial state of affairs.”

Referring to Ukraine and recently to Greenland, he stressed that “there is no other EU member state that better understands what invasion, occupation, missing persons and refugees mean.

The Cyprus Presidency, he continued, knows first-hand these concerns and its position is clear regarding respect for territorial integrity and respect for sovereignty.

The Republic of Cyprus, an EU member state since 2004, has been divided by Turkish troops since 1974, holding 37% of this Mediterranean island’s territory.

Immigration

—————-

With regard to immigration, the President said that there are solutions to this issue and referred to the actions of the Republic of Cyprus in recent years where arrivals to Cyprus have decreased by over 80% and returns have increased by over 60%.

Our main priority during the Presidency, he continued, is to ensure unity between the member states with the support of the Commission and the competent services in the preparation of a framework with the ambition of fully implementing the Pact on Migration and Asylum.

Schengen

————–

Referring to the Schengen Area, the President of Cyprus said that it constitutes a strategic goal for Cyprus and that it will strengthen its security and European orientation.

We have completed, he added, all the technical checks and we have achieved compliance in all areas waiting now for the final report of the Commission.

Enlargement and the Middle East

————-

About enlargement, the President said that we must be ready when candidate countries meet their obligations to respond as well, otherwise we lose this “great geopolitical tool”.

In relation to the Middle East, the President pointed out that each EU presidency brings its own agenda and that among Cyprus’ priorities is to work to bring the EU closer to the wider region.

He noted that following Cypriot initiatives, an EU-Egypt Summit was held for the first time in December and the first EU-Jordan Summit was held two weeks ago.

During our Presidency, he continued, specific EU policies and measures in relation to the wider Middle East will be announced within the framework of the Pact for the Mediterranean.

Transparency

————-

Replying to MEPs on the rule of law, transparency and the fight against corruption, the President stressed that he is proud of Cyprus and referred to the relevant reports of Moneyval and Greco and other international organisations, saying that this is a key reason why Cyprus has attracted significant quality foreign investments.

Today, he said, the Cypriot economy is showing growth of over 3%, unemployment is below 5% for the first time since 2008 and Cyprus is in Tier A ranking by all credit rating agencies for the first time since 2011, while public debt is at around 50%.

“And all of this is important first and foremost because it allows us to pursue social policy by increasing social spending beyond 6%. This is the competitiveness that we as the EU should be working on.”

MFF

——

In relation to the Multiannual Financial Framework, he said that we must send a message to citizens through the MFF, which must reflect our current needs, our current priorities without ignoring policies that have brought benefits to European citizens over time, such as the Cohesion Fund and the Common Agricultural Policy.

Invitation to MEPs to attend meetings in Cyprus

————

The President noted that we all understand the need for an autonomous Europe open to the world and added that it is precisely within this framework that Cyprus relies on the European Parliament, to work together and achieve this goal.

It is for this reason, he added, that the Cyprus Presidency is possibly the first Presidency to have decided to invite representatives of the European Parliament to all meetings to be held in Cyprus.

“We do that in recognition of the important role of the European Parliament”.

Concluding, he said that in this effort, over the next six months, the Cyprus Presidency, relies on all MEPs to achieve an autonomous Europe open to the world.

Commissioner Tzitzikostas

—————

Meanwhile, European Commissioner for Sustainable Transport and Tourism, Apostolos Tzitzikostas, said that the Cypriot Presidency has set out a clear agenda.

The Commission, he added, remains fully committed, working hand in hand with the Presidency, EP and the member states to deliver tangible results.

Together we can ensure that Europe remains competitive, secure, resilient and autonomous, he added.

“Mr President we trust you, Europe is counting on you” he told the President of Cyprus.

The Cyprus Stock Exchange (CSE) All Share Index closed at today`s stock exchange meeting as follows:

MEETING DATE: 20/01/2026

INDICES BASE VALUES: FTSEMed=5000, OTHERS = 1000

EURO (pound )

TRADED VALUE 462.112,33

INDEX

VALUE

%DIFF.

VALUE

FTSE/CySE 20

173,380

-0,600

392.721,760

MAIN MARKET INDEX

231,740

-1,240

302.358,470

INVESTMENT COMPANIES MARKET INDEX

3.066,790

-0,320

38.377,850

CSE GENERAL INDEX

288,720

-1,220

458.729,660

HOTELS INDEX

2.066,910

-1,640

348,000

ALTERNATIVE MARKET INDEX

1.946,680

-0,820

156.371,190

* The second column presents the percentage variation of the indices as compared to the last meeting.