The Ministry of Finance has proceeded to a research, Takis Klerides said
CB Governor speaks to “SW”
After the relevant notifications by the President Glafkos Klerides, the Cyprus Cabinet has committed itself to examine the UN peace plan and submit any clarifications, speculations or other data to be raised over the effects of the plan in the face of the radical changes that are to take place in island’s structure.
“The Ministry of Finance already examines the aspects of the peace plan submitted by the UN Secretary-General, to be able to cooperate for a negotiable solution and be well aware of the effects it is to have on Cyprus economy”, the Minister of Finance, Takis Klerides, said.
For this reason and according to “SW” information, the Ministry is in continuous communication with the Central Bank, while the CB Governor, Christodoulos Christodoulou, has made revealing statements to “SW”.
Takis Klerides said that the examination of the Annan plan by the Ministry aims first to acknowledge as to what extent this jeopardizes current Cyprus economic indicators that are now inline with the EU requirements in the face of the radical changes that are to take place in the island.
Secondly, Mr. Klerides stressed the need to take into serious consideration all those issues not mentioned in detail in the peace plan and concern significant issues related to the economy (the Ministry of Finance status, CB’s capitals, the currency, the customs, taxation and others).
“All these provisions not mentioned in detail must be taken into serious consideration. We have to be well prepared and aware of these significant issues that concern Cyprus economy”, Mr. Klerides noted.
As far as Cyprus economic indices are concerned - compatible with the Maastricht requirements - Mr. Klerides pointed out that the government must take the relevant measures in order to reduce or even eliminate the danger of a possible disorder.
As for the imminent timetable, the Minister said that the plan needs to be examined thoroughly but this will take more than just a few days. Mr. Klerides avoided making statements over the refugees contribution/compensation fund, as seen in the UN plan.
The Governor of the Central Bank
The CB Governor, Christodoulos Christodoulou on his turn stated that the Central Bank is in constant contacts with the Ministry of Finance. “We would like ensure that Cyprus economy and its future accession to the Economic Monetary Union will not be jeopardized”, Mr. Christodoulou said.
“It is likely, however, that the economy will be negatively affected in short term, but this does not entail that Cyprus will stay out of EMU when the time comes (two years after the accession, as determined by the Community Acquis)” the Governor said.
CB Governor speaks to “SW”
After the relevant notifications by the President Glafkos Klerides, the Cyprus Cabinet has committed itself to examine the UN peace plan and submit any clarifications, speculations or other data to be raised over the effects of the plan in the face of the radical changes that are to take place in island’s structure.
“The Ministry of Finance already examines the aspects of the peace plan submitted by the UN Secretary-General, to be able to cooperate for a negotiable solution and be well aware of the effects it is to have on Cyprus economy”, the Minister of Finance, Takis Klerides, said.
For this reason and according to “SW” information, the Ministry is in continuous communication with the Central Bank, while the CB Governor, Christodoulos Christodoulou, has made revealing statements to “SW”.
Takis Klerides said that the examination of the Annan plan by the Ministry aims first to acknowledge as to what extent this jeopardizes current Cyprus economic indicators that are now inline with the EU requirements in the face of the radical changes that are to take place in the island.
Secondly, Mr. Klerides stressed the need to take into serious consideration all those issues not mentioned in detail in the peace plan and concern significant issues related to the economy (the Ministry of Finance status, CB’s capitals, the currency, the customs, taxation and others).
“All these provisions not mentioned in detail must be taken into serious consideration. We have to be well prepared and aware of these significant issues that concern Cyprus economy”, Mr. Klerides noted.
As far as Cyprus economic indices are concerned - compatible with the Maastricht requirements - Mr. Klerides pointed out that the government must take the relevant measures in order to reduce or even eliminate the danger of a possible disorder.
As for the imminent timetable, the Minister said that the plan needs to be examined thoroughly but this will take more than just a few days. Mr. Klerides avoided making statements over the refugees contribution/compensation fund, as seen in the UN plan.
The Governor of the Central Bank
The CB Governor, Christodoulos Christodoulou on his turn stated that the Central Bank is in constant contacts with the Ministry of Finance. “We would like ensure that Cyprus economy and its future accession to the Economic Monetary Union will not be jeopardized”, Mr. Christodoulou said.
“It is likely, however, that the economy will be negatively affected in short term, but this does not entail that Cyprus will stay out of EMU when the time comes (two years after the accession, as determined by the Community Acquis)” the Governor said.
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