Last quote about Cyprus
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He has not been an accomplice of the Russians but the opposite. Ross came in to block the Russians, not to help them. The theory that Ross is a Russian Trojan horse does not make any sense to me.
The bank is a business, not a geopolitical football.
For many Eastern European countries, protecting the workers in and remittances from the UK may be the most important priority, and countries such as Luxembourg, Malta and Cyprus rely on British workers.
Spain, however, may be glad to stem the flow of British pensioners to the economy, whilst Germany may be glad to see greater immigration from Eastern Europe and to repatriate some of its own workforce.
Remittances from emigrants can make a significant contribution towards national income. Latvia, Croatia, Hungary and Lithuania are the most reliant on remittances in the EU, all with over 3 percent of GDP coming from abroad. For many countries, one of the most important factors to influence the impact from Brexit will be the goods and services they export to the UK. The effect on domestic economies of migration may be ambiguous.
The problem is not that many people have confidence that there will be one, because this has been going on for 40 years or so. You also see a generational difference: the older people, interestingly enough, are generally more in favour of a solution than the younger ones, because they've actually lived together with Greek- and Turko-Cypriots. They've lived with the other community before. Whereas the younger ones have been brought up to see the other side more as an enemy, especially through the schooling system.
If the older generation can't get over its historical problems in order to give this great gift to its unemployed children, I think that would be the great tragedy here.
I think the polls show that generally speaking, most people want a solution. The problem is not that many people have confidence that there will be one, because this has been going on for 40 years or so. You also see a generational difference: the older people, interestingly enough, are generally more in favour of a solution than the younger ones, because they've actually lived together with Greek- and Turko-Cypriots. They've lived with the other community before. Whereas the younger ones have been brought up to see the other side more as an enemy, especially through the schooling system.
It can become a hub of civilisations and commerce, with a Levantine coastline across. It can aim to sustain the existing buildings, preserving memories, and at the same time benefit from 21st century infrastructure and practices regarding ecological performance. I think this project is giving voice to many trapped souls. And we're trying to pull them from behind this unreal curtain.These people once lived in here, and they want to live again. And half of their soul is there. And half of our soul is also is also empty. Because we cannot get integrated.
Turkish Cypriots are under economic isolation, and this has inhibited the development of the private sector. We have many University graduates, and we don't have many jobs for them. Unless the Turkish Cypriot private sector becomes part of the global economy, it will be very difficult for us to create high quality jobs.
I have a couple of friends who have been studying engineering, and are still working in a bank, or in supermarkets. Because there's no job opportunities for our youth. So I booked a ticket, I said instead of waiting here, let me go to Lisbon and apply for jobs there, but I don't want to wait here.
You still need to go through checkpoints to get from one side of the island to the other. Trade is limited by the conditions of the UN's green ceasefire line and, in the absence of a political solution, represents only 10% of the potential commerce.
Many people, especially young people, qualified people with degrees, are looking for jobs abroad. I think that if there is reunification, because of the new investments that will take place and because of the new needs that will emerge, this will be able to stop this drift of young people abroad.
We are doing it, not for benefits, not to earn money, but to earn our future, and to make a good country for our future for our children and grand-children.
This is one culture – with variations: Turkish Cypriot variations and Greek Cypriot variations: the food we eat, the cloth we sew, the music we sing, we play.
We should forgive, not forget what happened. But is is a new time now: let us use this time to be together.
This house belongs to me now. I have got a certificate that it belongs to me. And they [the Greek Cypriot side] tell me: this is not international. It does not matter to me if it is international or not. I am living in it and I am living in this house [for] 43 years… 43 years. It is a life.
We are the Turkish. They are the Greek: different religion, different language, everything is different. Now I would like to ask you the question: Have you ever heard some problems after 1974 that the people killed each other? Like Syria or other countries? No! The biggest reason [for this peace] is that: [the presence of the] Turkish army.
Planes came and dropped bombs, my grandpa tried to protect me and my brother, it was terrible.
A federation would be a perfect solution.
For me it is not important if the president is called Nikos or Mustafa, Yannis or Ahmed.
I haven't slept a moment in 48 hours. I didn't want my children on that boat. It's like you're throwing the dice with their lives.
There was no other way to get them here. What else can you do? You either die at sea or you die in the village.
We could expand our support for SMEs (small and medium sized firms), for the banking sector and the infrastructure and energy sectors.
Should the referendum (on a Cyprus deal) be positive then we will certainly aim to increase our investment, particularly in the north. It's undoubtedly true that the north is very much under developed compared with the south and will require years of investment to catch up. So we'll have to see if Cyprus makes the case for an extension of mandate and how the shareholders will react.
We will get there and Turkey has to show its real intentions. Does it want a solution as we do or it wants a cover of legacy for its illegal actions?
We do not want this to drag on for months. We have to decide in a week or two whether this (solution for unifying Cyprus) will finally happen or not.
Britain could easily drop out from being a guarantor but there's no way it will give up its bases. They're making a poor contribution to our efforts. The EU is not that different. Their interest comes from Greek Cyprus being an EU member. The EU is just an observer and will stay that way as far as we can see.The real concerned parties are the two people living in the island.
For me it would be a matter of days but I can't ignore the difficulties and therefore what I say is the sooner the better for the Cypriot people.
First of all we didn't come with high expectations. What we wanted was for dialogue to begin. And this has been achieved; firstly, regarding the territorial changes, with the submission of the maps, even if we disagree. But it's the first time something like this has happened and, with regard to the guarantees, it's the first time that Turkey has participated in a dialogue on the abolition of guarantees, withdrawal of the troops of occupation. So, we can speak of dialogue.
I think we shouldn't base our judgement on statements, however negative they are, but rather on the result, the final result. If the Turkish position remains as it is, it means they don't want a solution, they don't go for a solution.
It's obvious that our side… wants the military to leave the island. We could agree on the creation of an international group which would observe under the aegis of UN Security Council how the implementation of the decisions will proceed. It's obvious that our side doesn't want interference rights and it wants the military to leave the island.
The fact that we have got this far is a real tribute to the courage and the determination of the leaders of the Greek Cypriot community and Turkish Cypriot community. ...The most important thing clearly is that both communities should feel secure about their futures and that is what the British government is here to help with.
Continuing the security and guarantor arrangements, which have been the basis of security and stability on the island for the last 43 years, is a necessity given the situation in the region. We are expecting this issue to be evaluated with an understanding in line with the realities on the island.
Ultimately a solution can only be in the interests of Greek and Turkish Cypriots, in other words, a solution that ultimately will be viable, functional and will remove fear from the people of Cyprus.
Merely mutual trust between communities is not enough. Everything has to be insured. We want that negotiations should proceed in order to provide a fair and permanent peace.
It's going to be difficult, but not impossible. If it succeeds I think this is historic for the Cypriots, they have been trying for several generations to solve this problem of a divided island but I also think it would send a very strong signal to a conflicted world.
If this time it fails between these two pro-solution leaders ... then a huge motivation will be lost. The two leaders have reached a lot of convergences beyond any other set of negotiations in the past. That's for sure. And it would be a sin to waste this.
Let's hope that the few things which are left like the guarantee issue and other few things they agree and next week, by the end of the month we hear the good news that we're going to be in a united country again.
I'm sure there are solutions around that… and I remind you of 1974 when we were displaced by force, by the Turkish troops we had no arrangements where to stay. We were living under the trees in tents.
We must be cautious. We are not pessimistic, but I see no need for exaggerated expectations that everything will just happen. We are expecting a difficult week ahead.
Ask me when we are finished.
The Turkish President Erdogan is more inclined to take a hard line on Cyprus to bolster his standing in Turkey as he faces many internal problems.
This should further strengthen stakeholders' confidence that the bank is becoming a stronger, safer and a more focused institution capable of delivering appropriate shareholder returns over the medium term.
I recommend that Cyprus should adopt and immediately announce even more liberal financial service policies than it already has so that it can try to take advantage of the inevitable relocations that will occur during the period of confusion.
We support a fair and viable solution without guarantees, without occupation troops and without fear for the citizens of Cyprus.
We are here believing that a new era, a new epoch for Cyprus can start with the co-operation between Greek and Turkish Cypriots for a common country.
Turkey will also be present along with the other two guarantor states, which is why we believe that Greece and Turkey play an important role. They are the closest to the two communities in Cyprus. Great Britain will also be a Guarantor State. We hope to find a solution that will be acceptable to all parties.
The timing for this, assuming we get all the necessary final approvals, will be to launch the transaction around March or April 2017.
We aim and hope to take the new structure to parliament within January.
The timing for this assuming we get all the necessary final approvals will be to launch the transaction around March or April 2017.
No' will win, everything will collapse so we might as well all go on holiday.
Our aim here is to put a stop to the abuse of the honest, fair and professional principle which must govern firms' operations, and in most cases do.
Since early 2015, CySEC has monitored CFD, binary options and rolling spot forex providers very closely to ensure firms are acting in the best interests of retail clients. In many cases, they are not. This is not acceptable. Our aim here is to put a stop to the abuse of the honest, fair and professional principle which must govern firms' operations, and in most cases do.
Firms offering complex or speculative products must limit available leverage to 1:50 as default and process same-day requests for client fund withdrawals.
Only those to whom the country does not belong are capable of burning it.
Now is not the time to apportion blame.
Fear is holding us back. Our future must be a shared one.
The prospect of a solution in Cyprus is within their reach. Expectations in both communities are high. Cyprus offers tremendous hope to people around the world that a long-standing conflict can be resolved peacefully through negotiations.
This land is enough for all of us. It would be a great same if we miss this historic opportunity.
A European state has no need of either guarantors or occupation troops. Occupation troops may offer security for one community, but certainly they create insecurity of the other community.
This is a critical juncture in the talks and he welcomes very much the fact that the two leaders have jointly expressed their hope that this meeting will pave the way for the last phase of the talks.
We've assisted five countries during the crisis: Greece, Ireland, Portugal, Spain and Cyprus. Four of these are now success stories.
We see that to a certain extent, it is perhaps more difficult than had been thought at the start. Because if this means that the bail-in mechanism leads to losses, let's say, at pension funds, or at other banks so it might be that the problem is just transferred.
We at the ECB have a strong intention to avoid a Japanese situation for Europe.
There will be two decisions ... One of course is to prolong, to what extent, for what duration. The other one is of course to weigh up.. This means we have to buy further assets and the question is what assets, do we have enough assets to buy and this is a point of discussion.
It must be aided by fiscal policy and structural policy.
My policy is that at the end of the day we have to have at least two of these pipes in order to have more than one option.
What transpired as a very significant issue in these talks is the ability of Greece to become a gateway of natural gas of the eastern Mediterranean to Europe.
...It seems the East Med basin might become the next big thing in natural gas.
As mentioned in the joint statement, our intention is to take advantage of the coming months to succeed. As ambitious as it may seem it can become possible, if there is mutual understanding about the concerns of both communities, especially on sensitive issues that concern the Greek Cypriot side.
This is a Cypriot-owned and Cypriot-led process. The United Nations is facilitating this one, and you can count on us and on me.
I'm encouraged that the Cyprus talks ... continue to make very good progress with active participation and leadership and commitment of the two Cypriot leaders. And I'm also encouraged at their strong commitment that they will complete the process within the year.
… Out intention is to succeed by utilising the next months. As ambitious as it may seem, it is feasible, if there is mutual understanding towards both sides' worries, especially on sensitive matters that concern the Greek Cypriot side.
They are not in danger, we are protecting them.
The situation is really tragic. The damage is irreparable.
A resolution of the Cyprus problem is necessary but not sufficient – you need commercial viability, too. We are going to do it by hook or by crook. We have to overcome all the difficulties and do it because it is essential for Israel's future.
That is why, from the very beginning, we were very careful and made sure that Cyprus' public finances were set on a sustainable path.
It looks like at least 49 of the passengers have been freed. That is all I have to say.
Our people they were talking to him all the time in order to keep him busy and allow people to come out. negotiators asked for more hostages be released in return for each of his requests.
I don't have any illusions with what we decided today, there will also be setbacks, because we have major logistic challenges to meet now.
The Turkish proposal worked out together with Germany and the Netherlands still needs to be rebalanced so as to be accepted by all 28 member states and EU institutions.
I have received a letter from Mr. Harris Georgiades, Minister of Finance for Cyprus, informing me of his government's decision to cancel the Extended Fund Facility arrangement, effective March 7, 2016. The Fund's 36-month EFF arrangement was scheduled to expire on May 14, 2016.
Nothing is agreed, until everything is agreed.
Everyone – Greek and Turkish Cypriots – should understand that the solution sought must be the outcome of a dignified compromise … and will not allow the imposition of the majority on the minority, or vice versa.
We had all these squabbles between Cyprus and Turkey which paralysed basically cooperation between two organisations in which almost the same members sit, which led to unnecessary duplication and unwise use of some resources.
I can confirm that during a Tornado landing at Akrotiri two of its missiles became detached from the aircraft.
I wish … for the good of both communities.
We want this issue to be resolved as soon as possible within the UN's framework of negotiations. We also expect 2015 to be the year of resolution, because the UN has run negotiations like this several times before.
I hope today will be the beginning of a bright future for all Cypriots and for our country.
To me the film noir is an existential genre – it can really tell the story of one's existence, all the way to its cruel ending.
I haven't seen such concerns in Turkey yet. Turkish officials did what they should do. They did not interfere officially in the elections. That is rare in our history. The late President Denktaş used to say.
I have said that my policy will focus on solutions and confidence-building. This is about the Cyprus problem. But we also have domestic business to attend to. I represent a different approach in domestic affairs in relation to Turkey. I will be a president who is involved not in political party affairs but with the problems of the people. I will pursue an independent and impartial presidential model, keeping distance from all sides and dealing with everybody.
The Cyprus issue has stretched out for half a century. My hope is that, together with the Greek Cypriot leader, by determining the same vision we have together, we will leave a Cyprus for future generations to share the benefits of the island and not grief. I have hope for the younger generations. This island has 9,000 square kilometres. The two communities should share this land in a fair and just way.
Congragulations on your landslide victory and becoming President of the Turkish Cypriots. Everybody is wondering what could change with this. We know the parameters of the Cyprus issue. Are you going to move outside these parameters? What is going to change?
When I was elected mayor of Nicosia after the 1974 intervention, I was the first person to initiate the first bi-communal project on the island. Nicosia's old city lacked water pressure. With this project, it got a proper distribution system and a development plan for the city. Therefore, Greek Cypriots know that I am a person who has the understanding of cooperation for the good of both communities. Off course, they know that I will defend the rights of my people, but in addition to that they know that I am going to act for the good of both peoples.
The result has pleased the Greek Cypriot side as it feels that, by voting out hardliner Dervis Eroglu, the Turkish Cypriots have demonstrated they want a leader who is eager to seek a political solution for the reunification of the island.
Turkey should allow Mr Akinci to engage in honest negotiations with us so we can reach an agreement that will fulfill the expectations of both the Greek Cypriot and Turkish Cypriot communities alike and calm the anxieties on both sides.
Greek Cypriots are taking a great interest in this election. They hope that a victory by moderate Mustafa Akinsi will eventually accelerate the peace process which has stalled amid the presidency of incumbent leader Dervis Eroglu.
Northern Cyprus is second in the world when it comes to nepotism. Unemployment is chronic. Because of reasons like these people are fed up with the current situation. And there is a wind of change. Akinci represents this movement, hope for a solution and what comes after that.
Officially the Greek Cypriot side expresses no preference for any of the two contestants for the Turkish Cypriot leadership, but the feeling here in Nicosia is that a victory by moderate Mr. Akinsi may signal the time for some essential progress to be made on the Cyprus issue, after years of stagnation.
For the Greek Cypriot side the Turkish Cypriot election is of great interest, as the victory of any of the hardline candidates may result in a major setback for the political process that may one day lead to the reunification of the island.
The major issue for both Greek and Turkish Cypriot society is to acquire a new vision, a new grand plan that will provide the ultimate solution to the Cyprus problem through our participation as a united society in the European Union.
From what have seen on the Internet, there was only one other sighting … in Israel, so maybe this is the second one.
A melanistic individual is a very, very rare sighting … basically its the opposite of an albino when the individual produces more melanin than normal.
Wait a minute. I must explain this important question. When Hamas carries out a terrorist attack, we condemn it. But don't forget what Israel has done in Gaza. They killed between 1,300 and 1,800 people ..this is something we can never accept. So if you are comparing Hamas and the PKK you are making a big mistake.
I must say one thing. We don't ask the Cypriot Greeks for a visa. Not many people know that. But no-one can deny there is a problem. There is a problem in Cyprus. There are two parts: Greek Cyprus and Turkish Cyprus. Why has the United Nations proposed a peace agreement? Why has Europe endorsed this peace proposal of the United Nations? Why was this peace plan subject to a referendum in 2004? It was in two parts. The Turks accepted the peace plan and the Cypriot Greeks refused it.
For the moment the negotiating process is going on. From time to time there are small problems to do with internal politics that cause us difficulties…I have to admit that.
Palestine is a state under occupation and the Palestinians are using military means to end the occupation. Even after United Nations rulings, Palestine is still under occupation.
I will say immediately to you that there is no immigration from Anatolia towards Cyprus. If this peace plan had been accepted, at the time of the referendum of 2004… if the Cypriot Greeks had not rejected the peace plan, today the soldiers Turkish stationed on the island would have withdrawn. Everyone knows that, including the European Union. We are not against a solution.
I think the goodwill problem is indeed largely on the Greek Cypriot side – I think the burden of responsibility is for them to be more helpful for the Northern Turkish Cypriots to be able to live normal economic lives, with trade.
If Greece continues to implement reforms and if there is additional financing needed after the end of the current programme (in 2014), then additional assistance will be provided.
It's about the same as the EU's budget for the full seven years ahead. And it's 100 times more than the loan that was recently agreed for Cyprus.
The Troika and the EFSF have proposed to increase the maximum average maturities of the loans by seven years in order to smooth the redemption humps and reduce the refinancing needs of both countries.
I want to welcome today the political agreement, reached on the memorandum of understanding for the Cyprus programme. And I hope it will be possible to satisfactorily complete this procedure by end of next week.
We have a lot of families coming here. The last two years we had a lot more families coming and asking to get some food because it is a free service and the reason is that one or even two of the parents have usually lost their jobs. We have children that can not afford to buy a sandwich or a juice, in the school.
In Cyprus there is a big problem now. Iit is getting worse, because more people come here to eat. They do not have food…300 people and families… and there are no jobs in Cyprus, because of the Europeans that came from Romania, Bulgaria, all over the place – and they take the jobs of the Cypriots.
Is there a possible solution? What is going to happen? Will we do better? Or worse? Or what?
We expect, and everybody in the European Union expects, that Turkey will ratify the additional protocol; otherwise it may have consequences; This is not a threat.
With public debt so high, in many of the euro area and European countries, the direction has to be down, and not up. But how fast should it go down? We believe that the pace should be measured and steady; measured and steady also means coming up with credible, medium-term durable measures and sticking to them, rather than focusing exclusively and predominantly on the headline deficit targets.
It is indispensable that a European Parliament member express himself in his mother tongue, both to defend his voters' interests best and also to discuss subjects.
We must lay the groundwork, be prepared for an enlargement of languages. Today we have 23 of them (…) not only linked to enlargement of the Union. Perhaps if a solution is found for the Cypriot question, we might have another language.
We're not expecting anything from Greece. I mean, it's not a duty of Greece, they owe nothing to us. So, we have to fight ourselves. And to build up the new era.
Yes, of course it will help, of course it will – because now too many people go to the other side and play millions. It's better to (make it) work here.
I know that member states from central and southeastern Europe are thinking how they can now accelerate the work on gas inter-connectors, how can they improve the integration efforts.
We said: people who have their money in Cyprus' banks have to contribute to saving Cyprus. So everyone who has more than 100,000 euros in his or her account will be taxed by almost 10 percent, by 9.9 percent.
The Eurogroup considers that in principal financial assistance to Cyprus is warranted to safeguard financial stability in Cyprus and the euro area as a whole by providing a financial envelope which has been reduced to 10 billion euro.
The introduction of the euro means that Malta is now more close to the European reality. It means it will attract more investment, more jobs, better jobs.
My first priority is to reinstate Cyprus' credibility. I am determined to work together with my EU partners and at the same time fulfil to the utmost our responsibilities. I am committed to all the necessary measures to steer the country out of the economic crisis.
Settlers, which is not the good word, not the good term to describe those people, because they are living in the island more than 20 or 30 years and they are somehow cypriotized, this is a humanitarian issue and a humanitarian matter can be solved in line with the international practice; so we are ready to solve this problem in line with the international practice and international law.
I'm very comfortable, I'm getting full support from Turkey, I don't have any problem and I know that without any full support of Turkey I cannot be successful. So I don't have any problem. If I'm on the negotiating table, this means that I'm getting the support of Turkey.
Policy of occupation? The relationship between the government and the military?
Property issue will be solved in terms of either compensations, or exchange or restitution. There are three options. And an agreement will have provisions regarding this issue.
They are 700 thousands, 600 thousand, Turkish Cypriot 200 thousand, so what type of balance they are seeking… I don't know. We shouldn't differentiate and discriminate people according to where they are coming from, and this is very important, crucial.
This is a very important question, a new partnership state will be formed and this partnership state will be based on the political equality of Turkish Cypriots and Greek Cypriots. Political equality does not mean numerical equality, but it means effective participation to the decision making and to the implementation. A federal state based on bi-zonality and political equality of the two peoples. This is very crucial for Turkish Cypriot.
Turkey is not using Cyprus as a bargaining chip in the European Union affairs, but the European Union, at least some countries of the European Union and Greek Cypriot side are using Cyprus.
The settlers, the immigrants, how?
Really I don't understand the question, if I can, I can answer.
According to the guarantee and alliance agreement now, 650 Turkish and 950 Greek soldiers will stay in the island. The problem is this: if you go on the streets and ask to Turkish Cypriot whether they want the presence of Turkish troops or not you will find that this is almost 95%. Why? Because of mistrust. So, the presence of Turkish troops is very crucial and very important for Turkish Cypriots, even if this is a symbolic number, it is a symbolic number.
Cyprus problem is a national problem for Turkey and you are right that some political forces use Cyprus issue in the domestic politics. This is a reality, although pity, but this is a reality. In that sense I agree, but again the majority of Turkish People, in Turkey, are very sensitive on the Cyprus problem, but they are not opposing a solution to the Cyprus problem.
It is not a big problem.
What other political purposes?
Nobody in the European Union – neither those who are more on the side of the Serbs – would allow a 'second Cyprus' in the European Union, meaning a country which doesn't have clearly defined borders.
We will negotiate for the conclusion of a loan agreement as soon as possible, but I want to be absolutely clear. Any reference to a haircut on public debt or deposits will not be tolerated and shows a lack of solidarity. Such an issue isn't even up for discussion.
In spite of the spirit of goodwill that was evident in the meetings between the Turkish and Greek foreign minister and the Greek political leadership, the outcome of their talks demonstrated once more that bridging the gap on the open issues between the two neighbouring countries is still subject to a long and arduous process of political negotiation.
The intention is surely to send a certain political message to Turkey but not to cause an outright crisis or rupture.
Everyone should know the existing window of opportunity on Cyprus will not always remain open. We hope that all the efforts that have been made (for a solution) will not be wasted. We hope we are not just spinning our wheels.
I am under no illusion that the Cyprus problem is easy to solve or about the difficulties that you face. At the same time I am confident that a solution is possible and within reach.
I think Turkey and Israel can fight not because of Gaza or Lebanon, but over Cyprus. Arguments over the rights of gas and oil reserves, its shipping, demarcation of territorial waters may cause conflict. Both navies know each other, this may help to overcome crisis but it is possible for the two countries to enter into an armed conflict.
Well it's going to be a more difficult task or more difficult process with Eroglu. I think, because if you look at the track record of Mr Eroglu compared to Mr Talat, he was not so, let's say, close to the idea of establishing a bi-zonal, bi-communal federation in Cyprus.
Whoever is elected as President, he should be determined to continue this process. This is a decision taken by Turkey as a guarantor of power. It is necessary to continue this process with Eroglu.
There was a feeling, perhaps, that we were breaking a taboo. That's why members of the Eurogroup held a tele-conference yesterday to say that we are ready to consider a progressive tax, if the Cypriot government and parliament decides that deposits of less than 100,000 euros are exempt.
The compromise we have found today is a breakthrough for a common banking supervision. It is important that the culture of ever decreasing standards in bank supervision is finally over. It means it is no longer about protecting one's own financial centre and big banks will be overseen equally in a European way.
Such unacceptably high levels of unemployment are a tragedy for Europe. They signal how serious is the crisis some eurozone countries are now in. The European Union and its member states have to mobilise all available instruments to create jobs and to return to sustainable economic growth.
Because over the last few days, I've been facing judgement, I ask you to make it a priority to investigate any accusations that have been made against me, directly or indirectly.
We are convinced that with perseverence we shall achieve a comprehensive settlement.
We have two different concepts: The Greek Cypriot side is actually keen on a centrally strong federal government whereas the Turkish Cypriot side is negotiating for a loose federal state. And these two different approaches to negotiations it make a quick success difficult.
The two leaders have met more than 70 times in the last one and half year and have made progress in some important areas but there are still big differences.
We have a problem. When the banks are closed it's like we are the living dead. We can't make any withdrawals, we can't make deposits or pay our suppliers. They must open because it's causing a huge problem.
This government will take its historical responsibilities and we will save the country. We don't have either days or weeks, we have a few hours.
So far, the actions of the European Union and the European Commission together with the Cypriot government, regretfully resemble a bull in a china shop to me. It's as if they miss the crisis.
It's really quite disappointing. Given the deterioration in the political and financial market outlook there is really little hope from what we see that there is going to be a turnaround in the second quarter, and in fact more likely an increased weakening.
We're working very hard. There is only one target, to save our economy and our country. I believe that the political parties will show the necessary responsibility for the survival of the Cypriot economy.
I think that soon – not by tomorrow, but soon – we'll find the 5.8 billion we're looking for.
In the present situation, I think that there is definitely a systemic risk, and I think that the unrest of the last couple of days has proven this unfortunately.
As a Chairman you have to find the compromise between the different countries, between the different perspectives and goals that we set out together, and therefore this decision was not stopped by me because it was a compromise, which brought together the different interests, the different goals that we share.
I don't think Russia will try to put all its eggs in one basket, neither Syria or Cyprus. It would prefer to have its cake and eat it too.
We're afraid that the whole system is collapsing. If today, it's the Cyprus Popular Bank, tomorrow, the rest of the banks. And if the banks collapse, the whole of Cyprus, everything, collapses. That's what we're afraid of.
If Cyprus were to go bankrupt, there would be a high risk of contagion for Greece, but also for other countries that are in bailout programmes, and those that the financial markets are nervous about.
The aid for Cyprus secures the successes we've already achieved in the eurozone. We must prevent the problems in Cyprus from unleashing new problems in other eurozone countries.
As you know, Turkey refuses to recognise the Republic of Cyprus and even refuses to meet us. For the moment, I can't say I am very optimistic. Any information I get from other parties who are in contact with Turkey is very negative.
We are a family of six. My parents and four children. I stay at home so I wouldn't have to borrow money from my parents. They don't know if they going to get their salary at the end of this month. I really don't know what to do.
I hope we'll have clarification soon on this step the Turkish government has announced. If this step is confirmed, it is obviously a very important step in the sense of full implementation of the Ankara Protocol. In that case, I salute the move.
It is important for us to match the democratic standards of Europe. But don't forget it took Europe years to accomplish this.
In fact if there were no political obstacles, we are at a point where we could easily open 12 of the currently blocked 16 chapters in a very short period of time.
I hope there will be a new proposal and this plan will be brought to a referendum in the first months of 2014, on both sides of the island.
In Cyprus's case, it's a little bit different. The money has been drawn into the country, there are certain question marks over it, is it legitimate money etc, but what you can say is that the banking sector could not survive the way it was in either country.
The problem now is a political problem, not a technical problem any more – it's well-known. As a political problem, it can fall under the UN umbrella. Of course, the Finnish presidency, with good will, did everything and really worked hard, and we appreciate their efforts.
There will be consequences, but we will have to discuss this. We will prepare these proposals for our December Council meeting. It is, of course, clear that business as usual cannot continue, but of course Turkey remains a candidate country.
Although no spectacular diplomatic results are expected from these meetings, the two sides see them as a good opportunity to improve relations on a host of less political issues like trade, tourism, culture and sports.
It is known that there are indeed issues over which we have serious disagreements. We fully recognise this fact, but we aim to create a relationship of mutual respect.
Although both sides once again agreed to disagree on fundamental issues over Cyprus, in the end they tried to save the day by announcing a number of low key initiatives. These are intended to lower tensions in the region and enhance economic cooperation between the two countries.
It appears there are serious prospects for a substantive joint statement which would satisfy the basic principles governing a Cyprus settlement, and lead to a resumption of negotiations.
Every day we take huge amounts of food and put it inside the tanks of our cars. We live in a world where one billion people suffer from the famine. Is this acceptable? We need a more intelligent transport system that has more fuel efficient cars, electric cars.
This is completely unfair for the people because not everybody here is a Russian oligarch. Everybody is just very hardworking.
Both "our citizens and foreign investors have a strong belief in the future of Turkish Cyprus.
Potatoes need a lot of water, so we create places to store water from our wells.
For example, there was a political decision to develop 14 golf courses. Around the golf courses there will be villas, there will be hotels, condominiums, restaurants, swimming pools. That's a use of water, we're sure it's not a good decision. Desertification I would say is the biggest problem we are going to face in the next few decades. What we can do is start taking steps now to ameliorate the problem, or to make sure that we adapt to it.
The new facility will produce 12 million cubic meters of water that can be used in all areas of agriculture. And alongside that, the most important thing is that we'll stop polluting the environment; reservoirs and groundwater sources will no longer be contaminated.
Allthough we have lots of dams in Cyprus, and we store every drop of water, the system cannot cope. For this reason we decided we had to use water from non-conventional methods like desalination.
Cyprus is no template.
We can not replace lack of capital in the banking system, that's quite clear. We can not compensate lack of actions by governments.
In the coming weeks, we will monitor very closely all the incoming information on economic and monetary developments, and assess the impact on the outlook for price stability.
We can imagine that the Cypriot economy falls back with more than 20% in total over the coming years. Because of that the government debt will continue to grow and that at the end of the day we might need a second bailout.
I think that the financial sector is not only hurt by the lack of credibility but also by the fact that the investors have been losing their money.
I think that the largest responsibility for that lies with the government of Cyprus which has portrayed the German government and the troika as the bad guys, which wanted to impose losses on the people of Cyprus, where in fact the opposite was the case.
No, the risk of contagion should be quite limited. The case of Cyprus was really unique in several aspects. Luxembourg has also very large banks, but with one crucial difference: the banks in Luxembourg are all owned by other banks in the eurozone. So the Luxembourg government will never be responsible for anything that happens in Luxembourg. So, savers' in large countries like Italy or Spain should have no fear and therefore there should be no noticeable contagion.
This was, if you want, the least bad solution the people of Cyprus could expect, because with the losses now being taken by the creditors of the banks, that means the people of Cyprus will not have to pay taxes to make up for these losses. That the economy would shrink, that there would be loss of employment, we knew. But that is inherent in the fact that the business model of Cyprus has been destroyed and Cyprus will take time to recover.
In the future, the ECB will be in charge of the supervision. It will know all the detailed information needed to have negotiations like this. It will be available for the troika and therefore, they will say, under these conditions, we can go into this project of a banking union because the dangers for us – as German taxpayers – are very limited.
The markets have reacted positively to the Cyprus deal, despite the unprecedented move to close one of the island's banks, which until now seemed unacceptable. What lessons can we learn from this deal?
It was necessary to have some theatre, so that Cyprus could actually show that they could say no, and the parliament of Cyprus did say no, but then thought, if we say no, then the cost for the economy will be extremely high. So, in the end, they agreed to a solution that keeps the damage to a minimum.
I would like to emphasize that none of these measures will effect deposits below 100,000 euros. There should be no doubts about that. We reaffirmed today the importance of fully guaranteeing these deposits in the European Union.
After a marathon of negotiations, finally white smoke has risen. Nicosia will get the first part of its 10-billion-euro bail out package at the beginning of May and a special task force will be set up to help the Cypriot economy.
The agreement reached overnight is hard but there couldn't be any other solution. That's what (French Finance Minister) Pierre Moscovici has called the 'casino economy'. The Cypriot system was totally unviable.
The harsh decisions taken by the Eurogroup over Cyprus have strongly disappointed the Cypriots as they now realise that the years to come are going to be very tough. What most of them say they want right now is to get back to their daily routines, but even that is going to take some time.
Cyprus was one step away from financial collapse, our choices were not easy and the environment was not ideal but after tough negotiations, with persistence and also a sense of responsibility, we have reached a result that ensures this country's future.
Our choices were not easy and the environment was not ideal but after tough negotiations, with persistence and also a sense of responsibility, we have reached a result that ensures this country's future.
We can't handle it. So we don't know what to do. Our nearest option is to maybe go abroad.
The explosion occurred in the boxes that had been seized in 2009.
All victims will be buried at the public's expense.
The National Guard was responsible for guarding the boxes.
It is a big problem. As you can see around here, everything is empty. Businesses are not working. There is no cash at all. If the European Central Bank puts limits on our withdrawals it means people will run to banks and take what they have.
This is bad for the economy. They should not leave the banks closed for an extended period. Business is dead and people are angry. This uncertainty is disturbing people.
It's the second week in a row that the banks have remained closed, causing serious cash shortages for ordinary people and businesses. But even if they reopen on Thursday, as the government has announced, it's expected to be a very long time until the banking transaction system gets back on track.
Greek Cyprus is acting provocatively by drilling, and the institutions whose mission is to protect peace remain silent. Is this the way to solve problems? No, they can't be solved this way. Many international issues are in deadlock. All the countries have to recognise that now.
At first glance we saw some Katyusha rockets. And for us that's enough. And Katyusha rockets, as I mentioned before, are against the population, not against soldiers.
In the future wealthy investors will also be asked to foot the bill. That is certainly not very pleasant for the people involved, but it calms the markets to know that states do no longer have to pay for the mistakes of their banks.
I think we all agreed that a solution has to be reached on Cyprus and I think we should use the time that we have in view of the elections this month to work out the best possible solution. I'm sure that German government will agree on that.
We do not accept, nor are we discussing, nor can we ever accept this. We categorically state that such a move would be illegal under Cypriot law and, I believe under European law.
Cyprus has immense wealth in natural gas and oil and with the right political handling, she can find the way back to economic recovery without any difficulties.
I have the impression that we respond to all the indicators under international anti-money laundering rules much better than some of the big countries which obliged us to go through this extended rough time. Cyprus doesn't seem to be among the countries which are known for money laundering.
Mr Eroglu is promoting this idea of a two-state solution which is not to be accepted either by the international community or by the Greek Cypriot side. So, if he wins the election, probably Cyprus negotiations will not continue and if they continue, it will not end up with any concrete results.
The prospect of Turkey's membership – although obviously at some time in the future – will be important for Europe and its security.
I restated very clearly, the position to the prime minister, that the signing of the Ankara protocol does not involve the recognition of Cyprus.
As you all know, I hope the new Commission will be fully in power next November, and I am now meeting all the heads of state or heads of government – all the members of the European Council – so as I can get a first-hand direct contact about what their priorities are.
These measures are the beginning of the beginning of a package of structural reforms whose intention is to correct the public deficit and make our economy dynamic again.
I received a very dramatic phone call from the Prime Minister of Lebanon and we are already prepared to meet the most immediate humanitarian needs.
Nothing has happened to improve the legal rights of LGBT since 1998.
We are strongly pushing for this to materialise … We believe that society has moved on much more than politicians.
Society in general is more accepting to LGBT than many think they are.
Allow me to present his work in an impressive way: he is the Matisse of Cyprus. He would have no trouble holding his own next to the European Fauves. Unfortunately, we have only recently discovered him, and it is too late. We are already in the 21st century. However, his work is topical and very contemporary. Costas Stathis is really the pioneer of all pioneers for Cyprus, but also for Greece.
Secondly, the necessary measures should be implemented to the liberalisation of closed professions and to enhance competition in products and service markets.
Cyprus and Malta will join the euro on 1 January next year. I would like to congratulate these two countries for this achievement, which is the result of appropriate policies.
We can't ignore that, due to the size of its economy, the French structural reforms programme will certainly, have a positive impact in the euro area and in the EU.
The first time that I visited it was a bit of shock to be honest. I have memories from my town, my home, my school. I was seven years old in 1974 and it's very strange situation to be trying to reconnect the threads of a childhood interrupted.
At the end of the day an agreement has to be reached between Cyprus and European partners unless Russia steps in and buys up the whole island. The key question is how to distribute these losses. Russia would be able to absorb it, and could gain much more political and economic influence, for example over recently discovered gas fields in Cyprus.
We feel quite relieved because there's a chance that there won't be a tax on our deposits. On the other hand though, there's a chance the situation may be turning into something worse.
Cyprus is our country – we believed it was our country. I have lived here for 16 years. But this country has deceived us, stealing our money. Yes, stole it. It wasn't this country's money. We brought it here, we didn't earn it here.
The Cypriot economy is sailing into unchartered waters. The decision has had a positive affect in terms of cleaning up the banking system, however it has hit services that amounts to some 20 percent of the country's GDP.
Cypriot banks have been closed since March 16 and with every day that passes life gets harder for individuals and businesses. Even when the banks do reopen problems will remain as there will be serious limitations on all withdrawals.
There are a lot of people who come here with very sad stories. And it's worrying, it's frightening that the banks, an official organisation that for years we've trusted (can act this way). Now you can't trust them any more.
We believe that for most European countries, fiscal consolidation is a must. Cyprus was, as I said and I'm happy to repeat it. It's no template. It doesn't set standards because it was not a standard itself. It was vastly different from many banks in other regions and in other countries in Europe.
Slovenia is indeed the country – of all the member states of the European Union – where the relative dimension of the financial sector is smaller compared to the overall GDP, so it's at least abusive to make a comparison on that ground with Cyprus.
Our case before the European Court required the law to be changed. Nowhere in Europe now still criminalises gay people and we are proud to say that we have played a significant role in bringing this shameful chapter in European history to an end. Laws against private, consenting homosexual acts between adults criminalise someone's very identity and have no place in the modern world.
This is a historic day for gay people in Europe and a major victory for human rights, equality and the Human Dignity Trust.
The leaders expressed their determination to resume structured negotiations in a results-oriented manner.
If member states of the European Union want to cooperate, they need free-up trade relations including access to ports and airports. We have a Finnish proposal on the table now, and I have heard with interest that this proposal is being welcomed by Turkey, too.
And people recognise that an environment where you have no inflation is a powerful driver to get out of the metal.
We don't have snow ploughs in sufficient quantities in this city to deal with the roads that are currently impassable. And nor do I think it would be a good investment of taxpayers' money to have snow ploughs for an incident of a kind that only occurs once every 20 years.
I believe networking will determine your net worth as an individual or a professional. We should never miss a chance to meet someone important. I personally wanted a booking experience which was more personalised, social and pleasurable. So I decided I should build one.
The very process of opening negotiations between the 25 Member States and Turkey logically implies a recognition of Cyprus and it's not a new condition: Sooner or later when negotiating with the 25 countries that form the EU you will have to recognise all of them.
We need to make the state more efficient – not necessarily by firing public sector employees, but we must follow the principle of a balanced budget. As for the Civil Service, we will set up a quota: for every four who retire, hire a new one.
No one has the right to reduce the welfare state, and if privatisation is used only to finance the deficit, economically that's useless to us.
I intent to use the natural gas resources to satisfy the needs of the Republic of Cyprus with regard to the debt of the Banks and the fiscal deficit. This way I will put the economy of Cyprus back on track.
We don't know what the cost will be, what the EU will demand in return for this loan. The biggest worry being they might force an increase in the corporate tax rate, which is currently the lowest in the EU at 10 percent.
For the first time since the island was divided back in 1974, the economic issues are overshadowing the political ones as Cypriots are facing an uncertain future and the prospect of long lasting economic turmoil.
Absolutely, absolutely. I think it's a matter of great shame. And you know, the net result if you don't take systematic actions, as the UN special rapporteur for example has said that Europe can easily take 250,000 refugees a year for the next five years. Now, if you don't take action today the fact that Syrian refugees are going to keep coming in Europe. That's going to happen because Nicosia which is the furthest point in Europe is not that far from Damascus, a couple of hundred miles. So, they will find their way here.
The government should investigate thoroughly and find the people responsible for this mess, prosecute them, put them in prison, even if he is the ex-president, whoever is responsible.
On Tuesday I plan to go to the bank and withdraw all the money I have in there and have nothing left in there. You know, I can't trust them anymore. It's theft. They are stealing from me. That's how I see it.
Yes, I think that could be a problem. I'll say again: we're facing a small economic and financial problem, but we have to pay attention to the psychological effects around this sensitive area – that is protecting small savers' money – and therefore, in my opinion, a very clear message has to be sent as soon as possible by the European institutions, starting with the European Central Bank.
Yes, I think this bailout loan process in Cyprus should be used to make the Cypriot banks more transparent, because in my opinion it is not good to use euro area banks for Russian investors' financial transactions that are not clear. So we must clarify that. I really thing that is the thing that must be clarified.
I think Cyprus really needed this European loan to stop it slipping and the crisis getting serious, but having said that the loan must be provided under conditions that make Cyprus responsible as well, there has to be an effort by the country as well. Are we going to ask Cyprus's small investors to contribute, and the big savers in Cyprus? Is this going to include investors who are outside Cyprus? Are we going to involve the big investors who are not from the European Union? That's to say, the Russian investors.
The risk of contagion is limited because we are not talking about a big event. But anyway, the European authorities must clearly state the principle that was adopted – that the protection of small investors in Europe will be respected. Don't forget that this is a key principle of the EU banking union that is being set up. So that's another reason to stick to this principle of protecting the bank savings of Europe's small account holders.
I think you have to remember that the European Union had adopted a very clear principle of protecting people's savings up to 100,000 euros. That clear principle was set after the 2008 financial crisis in order to prevent contagion following the collapse of Lehman Brothers. So, in my opinion, we have to respect that principle.
We don't need anyone to do anything for us, we don't need to owe to other countries, and we don't want to be involved with this financial third world war that is happening right now. Because this is what is happening! And it is a war and we don't want Germany here and we don't want them to help us at all.
It's as if the Europeans are holding up a neon sign, written in Greek and Italian, saying 'Time to stage a run on your banks!
If Cyprus' parliament rejects it, then the European partners will not lend any money to Cyprus. This would mean that the major Cypriot banks would collapse. There will be enormous financial chaos in Cyprus. That could lead to accelerated exit from euro area, which would be extremely disastrous for the Cypriot people.
It is not for the Commission to comment further at this point of time, except to say that we fully support the efforts of President Anastasiades.
There was no real choice. Without bailing in bank depositors, the total rescue would have to amount to 17 billion euro, almost 100 percent of Cyprus' GDP. And that would have endangered the fiscal sustainability in Cyprus.
My main goals are to make sure there is stability in the eurozone and that there is a new sustainable growth path possible for Cyprus again and those are the boundaries in which we have to find a solution.
We are confident in the ability of Portugal to deliver strongly under the program and to return to the market next year. I am deeply impressed by what the Portuguese government and the Portuguese people are undertaking for the time being.
(The) status quo is not an option, and together we'll make sure that we deliver reform. The centrepiece of the presidency will be to make progress on the Commission's proposal for a banking union, when we speak about the eurozone. Proper supervision of European banks, protection for citizens' bank deposits, a framework for dealing with banks in trouble have a direct impact on our citizens.
Turkey can not just sit back and observe what is happening. We also have economic interests. We will use our right to search for oil in these waters.
At this stage, the basic positions of both sides are being presented, so it is not possible to expect progress. The fact that we have entered into dialogue again is progress.
No one is under illusion that any of this is easy. Peace negotiations never are. But the time is right to push ahead. I'm convinced that these two leaders can achieve a mutual beneficial solution. For decades the world has heard about the Cyprus problem, now is the time for the Cyprus solution.
We are also currently taking this step with Northern Cyprus and it could start in a very short time, possibly this week. We will initiate these works in our exclusive economic region.
There are many things that our friends in the IMF don't take into account. For example, during the discussions which were aimed at avoiding the bailout, even in the banking resolution, they did not take natural resources into consideration. I believe that the keys to disproving the IMF's bad forecasts will lie in the cooperation over natural gas that we are pursuing with Israel, the strengthening of relations and co-exploitation in some sectors.
Of course, there were also mistakes made in providing liquidity for one of the two banks. The Popular Bank which went bankrupt and merged with the Bank of Cyprus absorbed 9.5 billion euros of European Central Bank Emergency Liquidity Assistance. That is how much the state of Cyprus needs. If you take this into account, you realise there are grounds for blame.
This 'famous' document was made public at my request. I have to say that it is nothing but a description of what was done from 2008 until 2012. It covers so-called 'convergence and divergence'. But it is not in any way a basis on which we are going to pursue the negotiations, nor we are bound by any convergence which was successfully accomplished in the past.
Nobody can define our sovereign rights and connect them to our national solution. We do want a solution. We want liberation, we want reunification with peaceful co-existence. We seek prosperity for everyone. But you cannot achieve that through the pressure of blackmail. I don't speak for NATO's Anders Fogh Rasmussen, but if you want to get the benefits of exploiting natural gas resources, you shouldn't have to agree to an unacceptable solution.
I trust the Cypriots; they are very well educated. In Cyprus we may combine high education indicators and the strength of will. The strong entrepreneurial ability of the Cypriot makes me confident and optimistic that Cyprus's problems will be solved soon.
The problem was bad management by the bankers. The banking sector in relation to GDP was not many times larger. Luxembourg's banking sector is the biggest part of the state's economy. That was not the problem. Unfortunately, sometimes we get big-headed and we mismanage our capacity. A very healthy banking system was led to the edge of collapse, endangering us with default on our national commitments.
The terms were such that we really feel we were used as a test model. It seems that this encouraged many EU officials and many governments to see this as a good solution for the future, unless we reach something better through a banking union.
That is correct. But that doesn't mean we will delete the points on which we agree – which do give us a foundation. The foundation is a bi-communal, two-zone federation with political equality. Of course, that doesn't mean there is either numerical or quantitative equality when we look at participation in the exploitation and development of the sources of income.
Cyprus has already decided to create a facility to liquefy gas. This is very important; it could help Israel, allowing it to export through this facility, rather than through the Suez Canal, in another direction. The route to Europe is open, and the Exclusive Economic Zones of Cyprus and Israel are so close in distance. This also could help the strategic alliance that we seek.
The Commission will make relevant recommendations ahead of the European Council in December, if Turkey has not fulfilled its obligations.
I am encouraged that the two leaders personally assured me of their shared commitment for a comprehensive solution as early as possible.
Elected at the end of May for a five year term the 751 members of the European Parliament first meet at their inaugra plenary session in early July. Each of the 28 member states has a certain number of seats: Cyprus for example has six, the highly populous Germany has 96. In the European Parliament MEPs however are not organised according to their own countries but in transnational fractions.
For people serving in our military, people serving in our government in Cyprus – because we have military bases there – we are going to compensate anyone who is affected by this bank tax. People who are doing their duty for our country in Cyprus will be protected from the Cypriot bank tax.
Frankly it's unfortunate to continue to hear unhelpful comments from Germany. I have to say it's not surprising. It's known that the reason that the Cypriot government was blackmailed was because of an internal dispute associated with the September elections in Germany.
I believe that unless European governments reverse the course that was outlined over the weekend, yes it is.
I hope that there are plans both in Cyprus and in other European governments. What we see is the result of the European government decision on Cyprus, which pushes Cyprus to seek help from Russia. This is a very sad development for the European Union project.
Under the circumstances it's very difficult to re-open the banks in Cyprus before a solution to the situation is developed. Let's put these things into perspective. European governments got together and asked the Cypriot government to confiscate deposits deposited in Cypriot banks. How would a depositor with his deposits in Spanish banks, for example, feel sure that European governments won't do the same with Spain?
Frankly is this what the citizens of Spain, France or even Germany want? Do we really want to see the death of the European Union project? Personally I used to be very optimistic on Europe and a big believer in the European integration project, but I became less and less so. Citizens in different member states of the European Union are not treated equally under the law.
I regret, but respect, the decision by Cyprus lawmakers. Now we have to wait and see what alternative proposal Cyprus offers to the Troika.