Cyprus News Agency: News in English, 13-09-05

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

CONTENTS

[01] Foreign Minister to participate in GYMNICH in Lithuania

[02] Unemployment in Cyprus on the rise

[03] FINMIN: Gradual easing of bank restrictions

[04] Ambassador: Cyprus-UK relations have improved while prospects are

even better

[01] Foreign Minister to participate in GYMNICH in Lithuania

Issues on the agenda of the meeting include, inter alia, recent developments in the Middle East and the Eastern Mediterranean, issues related to the Common Security and Defence Policy of the European Union in view of the upcoming December European Council Summit, where the Heads of States and Governments will exchange views on security and defence matters, as well as the Eastern Partnership.

According to an official press release, US Secretary of State, John Kerry, is expected to also participate in the deliberations of the second day of the meeting.

The EU Ministers will have the opportunity to exchange views with Secretary Kerry on Syria and Egypt.

On the way to Lithuania, Minister Kasoulides will travel to Copenhagen, where he will hold today both a meeting and working lunch with his Danish counterpart, Villy Sovndal.

[02] Unemployment in Cyprus on the rise

Emilianides said that based on official data, confirmed by the Statistical Service of Cyprus, during the last quarter of 2012 the unemployment stood at 12.7% whereas it reached 15.9% in the first quarter of 2013, which corresponds to 71.000 unemployed.

"After the first quarter of 2013, based on data available so far, which are to be confirmed, there was an increase of 1.5% that gives us hope that the upward trend of the unemployment rate is being curbed, compared with an increase of 3.2% recorded between the last quarter of 2012 and the first quarter of 2013," said the Labour Minister.

[03] FINMIN: Gradual easing of bank restrictions

Replying to a question about capital controls the Cypriot Minister referred to the road map announced in August, which has to do with the adjustment programme's implementation as well as with the progress achieved in the financial sector.

"Gradual easing will continue until they (capital controls) can be fully lifted", he said, adding that "we are on the right track" and that "capital controls today are much milder than in the beginning".

Cyprus and its international lenders (the European Commission, the European Central Bank and the IMF) agreed late March on a €10 billion bailout programme, which provided for a haircut on uninsured deposits in the island`s two largest banks.

Under the agreement, Cyprus Popular Bank, Cyprus` second largest lender, would be wound down and its good part will be absorbed by Bank of Cyprus, the island`s largest lender.

[04] Ambassador: Cyprus-UK relations have improved while prospects are even better

In an interview to CNA the experienced diplomat said that the relations between Cyprus and the United Kingdom over the period of his tenure have improved.

"We have established a very sincere working relationship with the Foreign Office. We explain our positions, we try to convince and many times we do achieve so; many times we accept that we cannot agree, but this is certainly a very sincere working relationship and I would also say an equal one," explained Mr Zenon. He added that after the redefinition of Cyprus's foreign policy by the administration of President Anastasiades "even better conditions for closer and constructive cooperation between the two countries" have been created.

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