Cyprus News Agency: News in English, 11-10-27

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From: The Cyprus News Agency at <http://www.cyna.org.cy>

CONTENTS

[01] ROZAKIS - CYPRUS - EEZ

[02] CENTRAL BANK - CAPITAL

[03] HOUSE - MISSING PERSONS

[04] CYPRIOT DOCTORS - LIBYA

[01] ROZAKIS - CYPRUS - EEZ

This was underlined by Christos Rozakis, Professor of International Law at the University of Athens, President of the Administrative Court of the Council of Europe and former first Vice-President of the European Court of Human Rights.

In an interview with the Cyprus News Agency (CNA), Professor Rozakis referred to Turkish demands in Cyprus` EEZ, saying that they lack ``substantive and legal foundation and they furthermore turn Cyprus into a hostage to unreasonable demands.

``The delineations as regards Cyprus EEZ are impeccable. Unilateral or irrational demands by Turkey, which are based on the groundless argumentation that Turkey can claim maritime zones in Cyprus southern seas, do not constitute a serious dispute which could be resolved by an international judicial body, he said.

Referring to the illegal agreement Ankara has signed with the Turkish Cypriot regime in occupied Cyprus to delineate what it calls continental shelf, he said the agreement has no legal value since the Turkish Cypriot regime is illegal and cannot conclude bilateral agreements.

As regards the exploratory drilling for hydrocarbon reserves, which began a few weeks ago in Cyprus EEZ, Rozakis said that in the event that natural gas deposits are found, this could give Turkish Cypriots one more incentive to work for the reunification of Cyprus, divided since the 1974 Turkish invasion.

The exploitation of natural resources, which will bring economic benefits to the Republic of Cyprus, will work as one more incentive for the Turkish Cypriots towards the reunification of Cyprus, he said, adding that this element, of course, is not enough to achieve reunification.

He also said that the intention of the official state of Cyprus is to distribute the economic benefits that may arise from any future exploitation of hydrocarbon reserves, to the Turkish Cypriots, even at a stage before the reunification of the island.

[02] CENTRAL BANK - CAPITAL

In a statement, the Euro Summit said that ``there is broad agreement on requiring a significantly higher capital ratio of 9% of the highest quality capital and after accounting for market valuation of sovereign debt exposures, both as of 30 September 2011, to create a temporary buffer, which is justified by the exceptional circumstances.``

It also added that ``Banks should first use private sources of capital, including through restructuring and conversion of debt to equity instruments. Banks should be subject to constraints regarding the distribution of dividends and bonus payments until the target has been attained. If necessary, national governments should provide support, and if this support is not available, recapitalisation should be funded via a loan from the EFSF in the case of Eurozone countries.``

``In view of the above developments the Central Bank considers as necessary that the efforts of the affected banks for capital strengthening should continue and intensify,`` the Cypriot CB said in a statement.

[03] HOUSE - MISSING PERSONS

Speaking before the House Plenary, on the occasion of Missing Persons Day, Anastasiades said the House in April 2010 unanimously established October 29 as Missing Persons Day, after a suggestion submitted by the Organisation.

``The struggle to determine the fate of the missing persons and undeclared prisoners of the Cypriot tragedy actually began on October 29, 1974, the day after the last prisoners were set free by the Turks,`` he said.

Anastasiades noted that ``the problem of missing persons constitutes the most painful aspect of the Cypriot tragedy,`` adding that since 1974 ``the efforts of the Republic of Cyprus and the repeated calls from international organisations have stumbled on the intransigence of Turkey, which continues to refuse to implement the procedures for tracing the fate of the missing persons.``

[04] CYPRIOT DOCTORS - LIBYA

The team of three doctors, namely Chairman of the Volunteer Doctors dental surgeon George Georgiou and two members, pediatric surgeon and MEP Eleni Theocharous and surgeon Michalis Kakas, will remain in Benghazi for a week and will cooperate with Libyan colleagues to attend to critically wounded from the civil clashes in the country.

According to a press release, the Libyan hospitals are attending to a large number of wounded and face a huge lack of staff and supplies.

The mission enjoys the direct support of the Ministries of Foreign Affairs and Health of the Republic of Cyprus, with the provision of institutional and financial support, as well as medical supplies.

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