President of the Republic Nicos Anastasiades has stressed that the government has no intention to leave the eurozone, adding however at the same time, that people in Cyprus as well as the government are disappointed because of the recent Eurogroup decisions and the lack of solidarity from our European partners.
Addressing an event in Limassol Monday night, where former Deputy Minister for European Affairs Andreas Mavroyiannis was decorated with an award, the President said that Cyprus belongs in Europe, adding that the government and the majority of the political parties, share the same position.
Referring to the economic crisis, President Anastasiades said that strict austerity is not the only solution, stressing that we need to have growth and jobs.
He went on to say that Cyprus has requested additional assistance via the Multiannual Financial Framework 2014-2020 as well as additional funding in the framework of the cohesion policy and rural development.
Excluded from international markets since April 2011, Cyprus applied for financial assistance from the EU bailout mechanism in June 2012, after its two largest banks sought state aid following massive write downs of Greek bond holdings amounting to €4.5 billion.
In March Cyprus and the Eurogroup agreed on a €10 billion bailout, on condition that Cyprus would secure 10.6 billion required for the recapitalization of its banking sector from own resources. This resulted to the closing of Laiki Bank, Cyprus` second largest bank. The impact on depositors was enormous, since they lost their deposits over 100,000 euro.
In his address, President Anastasiades also referred to the geostrategic role that Cyprus could play as a European energy hub and how this could benefit the whole region of Eastern Mediterranean.
He said that the creation of a pipeline for the transfer of natural gas to Cyprus as well as the liquefaction terminal on the island are very important projects that will attract foreign investment and create jobs.
He also reitareted the government’s decision to apply to become member of the Partnership for Future, recalling that the Parliament in Cyprus has passed a resolution on that.
President of the Republic also referred to the Turkish stance towards the Cyprus problem as well as Cyprus’ sovereign right in its exclusive economic zone.
He said that the Turkish occupation should be terminate and Cyprus should be reunited. He added that the solution must provide for one sovereignty, one personality and one citizenship and that all human rights for all citizens must be respected.
Referring to Turkey’s european course , the President said that Ankara must fulfill all its obligations towards Cyprus, which is already an EU member.
Cyprus has been divided since 1974 when Turkey invaded and occupied its northern third. The latest round of UN-backed talks was suspended in July 2012 as a result of Turkey`s reaction to the fact that Cyprus would assume the EU presidency between July and December 2012.It is expected that talks between the two Cypriot communities will resume in the Autumn.
US Noble Energy for offshore block 12. Exploratory drilling conducted by Noble in late 2011 revealed estimated gross mean resources of 7 trillion cubic feet. On June 7, Noble began drilling at the A-2 appraisal well location in block 12, which will take 60 to 90 days. Apart from Noble Energy, the Republic of Cyprus has also signed contracts with the ENI/KOGAS consortium for hydrocarbons exploration in blocks 2, 3 and 9, as well as with French TOTAL for blocks 10 and 11 in the EEZ.
Following Nicosia’s decision to begin natural gas and oil exploration in its exclusive economic zone, Ankara has in the past deployed warships in the Eastern Mediterranean and has signed an illegal agreement with the Turkish Cypriot regime in occupied Cyprus to delineate what it calls continental shelf, while Turkish officials have at various times issued threats against the Republic.
