Cyprus President convenes meeting on financial crisis

President of the Republic of Cyprus Demetris Christofias has convened a meeting on Friday to discuss in detail the support plan of the economy which is being drawn up by the government in order to tackle the possible repercussions caused by the global financial crisis.

The meeting was announced here Monday by the Minister of Finance Charilaos Stavrakis after a meeting held at the Ministry of Finance and attended by Presidents and senior executives of both Cyprus commercial Banks and co-operative credit institutions.

“One is expecting that most likely final decisions will be taken”, Stavrakis noted.

The meeting will attend Ministers of Commerce, Industry and Tourism, Labour and Social Insurance, Interior and Communications and Works as well as high ranking public servants and experts.

In response to a question, Stavrakis assured that Cypriot economy is still running in a very satisfactory manner, in relation with other countries, which are facing huge problems, noting that those countries’ need to draw up extraordinary plans of economic actions was way more urgent.

He concluded by saying that several alternative plans of economic actions are being drawn based mainly on tourism and construction industry to tackle the problems ahead.