The Speaker of the House of Representatives, Mrs. Lane, Member of the Executive Board of the European Central Bank (ECB), who is on an official visit to Cyprus at the invitation of the Governor of the Central Bank of Cyprus (CBC), Mr. Constantinos Herodotos.
Welcoming Mr. Philip R. Lane, the Speaker first focused on Cyprus, European and global economic issues, stressing that European economies are going through a macroeconomic cycle with high inflation, as they are still dealing with the consequences of the measures taken to contain the pandemic, as well as the effects of Russia's invasion of Ukraine. In this context, the President of the Parliament informed the European official about the positive performance of the Cypriot economy and the positive prospects for the future, despite the uncertainty in the global economic system. Both sides stressed the need to bring inflation back to 2%.
The discussion then focused on issues related to the financial sector and in this context, the positive performance of financial institutions was highlighted, while at the same time reference was made to issues related to the restructuring of non-performing loan facilities.
The meeting also discussed issues related to the need to take measures to address climate change, as well as to take actions for the implementation of reforms leading to the green transition, digital reform and the replacement of conventional energy sources with renewable energy sources.
(Text as sent by the House of Representatives)
Contents of this article including associated images are owned by PIO
Views & opinions expressed are those of the author and/or PIO
Source
