Nicosia---President Nicos Anastasiades has reaffirmed that his government will do its utmost so that Cyprus and its people can gain back their pride , hope and prosperity.

Speaking Saturday at a memorial service held in the coastal city of Limassol for the late President Spyros Kyprianou, Anastasiades noted that in this new era that has dawned for our country, we must all join hands so that we can achieve the greatest consensus, cooperation, political will and unity for both the Cyprus issue and the economic crisis we are faced with.

Referring to the economic situation and the ongoing consultations with the international lenders for a bailout agreement, President of the Republic said that we must all contribute for the economic stability and growth. He pointed out that we must work for the fiscal consolidation and budgetary stability , noting however that this must not be against the vulnerable groups of our society.

“We will do our utmost so that we can exit the crisis the soonest, because this is the only way via which we can strengthen our negotiating position in the Cyprus problem , on the basis of a comprehensive and firm strategy”, the President underlined.

He pointed out that the situation is difficult and the circumstances are pressing, noting however that “miracles don’t happen in just one day”.

He also said that the road ahead of us is not rosy and that the challenges are hard, adding however that we will work hard and with determination like we did right after the Turkish invasion of 1974.

Cyprus has been divided since 1974 when Turkey invaded and occupied its northern third. The latest round of UN-backed talks began in 2008 with an aim to reunite the island under a federal roof but they came to a halt before Cyprus assumed the Presidency of the Council of the EU in July 2012.

Excluded from international capital markets, Cyprus has requested financial assistance from the EU bailout mechanism after its two largest banks sought state aid following massive losses of their Greek bond holdings estimated at €4.5 billion, as a result of the Greek sovereign debt haircut.

The Troika and the Cypriot authorities have agreed on a preliminary memorandum of understating which includes the conditions for the granting of the financial assistance programme estimated at €17 billion.
(CNA)