Cypriots and Greeks residing in the US are mobilizing with a view to assisting Cyprus to recover from the economic difficulties it is facing.
On Μarch 25 Eurozone Finance Ministers, known as the Eurogroup, decided on a €10 billion bailout for Cyprus coupled by a bail-in by uninsured depositors. The decision provided that Cyprus` second largest lender, the Cyprus Popular Bank, will be wound down, whereas Bank of Cyprus` uninsured deposits will take losses up to 60%.
Leading Cypriot and Greek personalities in the US will discuss with Cyprus government representatives details of a possible issuance of Cyprus bonds linked with future proceeds from natural gas exploitation.
Exploratory drilling conducted by Noble Energy in Block 12 of Cyprus’ exclusive economic zone has revealed a gross natural gas reserve from 3 to 9 trillion cubic feet with a 60% probability of geologic success.
Confirmatory drilling in block 12 of Cyprus` exclusive economic zone will begin as soon as the rig is transferred there, in mid- or late June, and is expected to be completed by October.
Archbishop of America Demetrios will meet Cyprus Foreign Minister in the evening of May 9. A dinner with the participation of leading members of the Greek American Community and the Cyprus American Community in the US will follow, during which the specifics of assistance offered to Cyprus will be discussed.
At the same time they will brief members of the Congress and opinion leaders on the situation in Cyprus and they will further request that no pressure is applied on the part of the American government as regards new talks for the solution of the Cyprus problem under the aegis of the UN.
Their efforts will continue in the context of the 29th Conference of the International Coordinating Committee – Justice for Cyprus (PSEKA) which will take place in Washington between June 4 and 6. Government Spokesman Christos Stylianides will represent the government of Cyprus at the Conference.
The latest round of talks, which began in 2008 with a view of reuniting the island, divided after the Turkish invasion of 1974, stalled in June 2012 when the Turkish Cypriots objected to the assumption on the part of the Republic of Cyprus of the EU Council rotating Presidency on July 1.
In the meantime Archbishop of America Demetrios has appealed to all Greek Orthodox parishes through a message read out during services across America to financially support Cyprus. The Archbishopric of America decided on April 3 to create a humanitarian assistance fund which will be distributed in Cyprus via the Cyprus Archbishopric.
