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German Marshall Fund roundtable discussion: “New Prospects for the Eastern Mediterranean and the Cyprus Problem”
On Tuesday, December 9th, 2014, the German Marshall Fund of the United States (GMF) hosted a roundtable discussion with Ambassador Andreas Mayroyiannis, chief negotiator for the Greek Cypriot community in inter-communal talks aimed at a settlement of the problem of the division of the island. His presentation was entitled “New Prospects for the Eastern Mediterranean and the Cyprus Problem.” GMF Senior Advisor Sir Michael Leigh introduced and moderated the discussion. This event was attended by some 30 diplomatic, government, and think tank representatives.

To begin the discussion, Leigh described the current state of negotiations, the volatility of the region, and the hope that new energy discoveries would facilitate relations among states in the Eastern Mediterranean and not become a new source of tension. Ambassador Mayroyiannis said that the new leadership of the European Union, in particular European Commission President Jean-Claude Juncker and European Council President Donald Tusk, should bring synergy to the institutions and allow Europe increasingly to speak with one voice. “Thanks to the Republic of Cyprus,” he continued, “Turkish Cypriots are now European citizens; this is fundamental. The Turkish Cypriot community today is even more attached than the Greek Cypriots to the European Union”. This meant that the question of EU membership was off the table in the inter-communal talks.
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Signing of the FATCA Agreement between Cyprus and the USA - 02/12/2014
The Minister of Finance, Mr Harris Georgiades, and the US Ambassador to Cyprus, Mr John M. Koenig, signed today, at the Ministry of Finance, an Agreement on the improvement of the International Tax Compliance for the implementation of the Foreign Account Tax Compliance Act (FATCA) between Cyprus and the USA.

In his address during the signing ceremony, Ambassador Koenig stated the following:
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Joint Declaration by the Ministers of Energy of Cyprus, Egypt and Greece - 25/11/2014
The Minister of Energy, Commerce, Industry and Tourism of the Republic of Cyprus, Mr Yiorgos Lakkotrypis, the Minister of Petroleum and Mineral Resources of the Arab Republic of Egypt, Mr Sherif Ismail, and the Minister of Environment, Energy and Climate Change of the Hellenic Republic, Mr Yiannis Maniatis, met today, in Nicosia, and had a substantial and results-oriented discussion on the prospects of closer cooperation between their respective Governments in the energy sector.

The meeting of the three Ministers constitutes the first follow-up trilateral Ministerial meeting between the three Governments, after the landmark Cairo Summit of November 8th, which was held at the Heads of State/Government level. In this respect, the three Ministers reiterated their countries’ common position as reflected in the trilateral summit Cairo Declaration and expressed their common desire to build on the momentum of tripartite cooperation between their respective Governments, in line with the Cairo Declaration of 8th November.
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Written Statement on the upgrade of Cyprus’s bond rating by the Moody’s Credit Rating Agency - 15/11/2014
The Government welcomes the upgrade of Cyprus’s bond rating by the Moody’s Credit Rating Agency which follows the recent successive upgrades of the economy of Cyprus by Credit Rating Agencies.

In particular, the Government considers of great importance the fact that the key drivers of the upgrade of the economy of our country were “the consolidation of the government's fiscal position, as illustrated by an expected return to a primary budget surplus from 2014, and the expectation that public debt relative to GDP will level off in 2015,” as well as “the stabilization of Cyprus's financial sector through the recapitalization of troubled banks,” which lowers the risk that bank-related contingent liabilities will crystallize on the government's balance sheet.
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CYPRUS FACT SHEET - November 14, 2014
POLITICAL DEVELOPMENTS

Landmark European Parliament Resolution


A resolution strongly condemning Turkey’s illegal and provocative actions in Cyprus’ Exclusive Economic Zone was adopted by the European Parliament on 13 November calling upon the country to respect the rule of law and the sovereignty of the Republic of Cyprus. The Resolution 2014/2921 adopted by the European Parliament is as follows:
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