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France calls Turkish-Cypriot move on ghost town a 'provocation'

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French Foreign Affairs Minister Jean-Yves Le Drian speaks during a news conference with U.S. Secretary of State Antony Blinken at the French Ministry of Foreign Affairs in Paris, France, June 25, 2021. Andrew Harnik/Pool via REUTERS

France on Wednesday (21 July) criticized as a "provocation" a move by Turkish Cypriot authorities to partially reopen an abandoned town in Cyprus for potential resettlement, in the latest critique from the West that Ankara has dismissed, write Sudip Kar-Gupta in Paris and Jonathan Spicer in Istanbul, Reuters.

Turkish Cypriots said on Tuesday (20 July) that part of Varosha would come under civilian control and people would be able to reclaim properties - angering Greek Cypriots who accused their Turkish rivals of orchestrating a land-grab by stealth. Read more.

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Varosha, an eerie collection of derelict high-rise hotels and residences in a military zone nobody has been allowed to enter, has been deserted since a 1974 war split the island.

French Foreign Minister Jean-Yves Le Drian (pictured) discussed the matter with his Cypriot counterpart on Tuesday and will raise the topic at the United Nations, a spokesperson for Le Drian's ministry said.

Cyprus is represented in the European Union by an internationally recognised Greek Cypriot government. France presides over the U.N. Security Council this month.

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"France strongly regrets this unilateral move, upon which there had been no consultations, which constitutes a provocation and harms re-establishing the confidence needed to get back to urgent talks over reaching a fair and long-lasting solution to the Cypriot question," Le Drian's spokesperson said.

The EU, the United States, Britain and Greece also objected to the plan unveiled when Turkish President Tayyip Erdogan visited Nicosia on Tuesday. He called it a "new era" for Varosha, on the island's eastern coast.

Turkey's foreign ministry said the EU's critique was "null and void" since it is disconnected from realities on the ground and favours Greece, an EU member. "It is not possible for the EU to play any positive role in reaching a settlement to the Cyprus issue," it said.

Peace efforts have repeatedly floundered on the ethnically split island. A new Turkish Cypriot leadership, backed by Turkey, says a peace accord between two sovereign states is the only viable option.

Greek Cypriots reject a two-state deal for the island that would accord sovereign status to the breakaway Turkish Cypriot state that only Ankara recognises.

Cyprus

NextGenerationEU: European Commission disburses €157 million in pre-financing to Cyprus

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The European Commission has disbursed €157 million to Cyprus in pre-financing, equivalent to 13% of the country's financial allocation under the Recovery and Resilience Facility (RRF). The pre-financing payment will help to kick-start the implementation of the crucial investment and reform measures outlined in Cyprus' recovery and resilience plan. The Commission will authorise further disbursements based on the implementation of the investments and reforms outlined in Cyprus' recovery and resilience plan.

The country is set to receive €1.2 billion in total over the lifetime of its plan, with €1 billion provided in grants and €200m in loans. Today's disbursement follows the recent successful implementation of the first borrowing operations under NextGenerationEU. By the end of the year, the Commission intends to raise up to a total of €80bn in long-term funding, to be complemented by short-term EU-Bills, to fund the first planned disbursements to member states under NextGenerationEU. Part of NextGenerationEU, the RRF will provide €723.8bn (in current prices) to support investments and reforms across member states.

The Cypriot plan is part of the unprecedented EU response to emerge stronger from the COVID-19 crisis, fostering the green and digital transitions and strengthening resilience and cohesion in our societies. A press release is available online.

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Commission approves €1 billion Cypriot scheme to support enterprises and self-employed individuals in context of coronavirus outbreak

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The European Commission has approved a €1 billion Cypriot scheme to support enterprises and self-employed individuals in the context of the coronavirus outbreak. The scheme was approved under the State Aid Temporary Framework. The support will take the form of state guarantees on new loans. The measure will be open to companies active in all sectors (except the financial sector). The aim of the scheme is to provide liquidity for viable companies which experienced business disruption due to the coronavirus outbreak.

The Commission found that the Cypriot measure is in line with the conditions set out in the Temporary Framework. In particular, the scheme (i) relates to new loans with a minimum maturity of three months and a maximum maturity of six years; (ii) foresees a  coverage of the guarantee limited to 70% of the loan principal; (iii) provides for minimum remuneration of the guarantee; (iv) contains adequate safeguards to ensure that the aid is channelled effectively by the financial intermediaries to the  beneficiaries in need; and (v) ensures that support will be granted no later than 31 December 2021.

The Commission concluded that the measure is necessary, appropriate and proportionate to remedy a serious disturbance in the economy of a member state, in line with Article 107(3)(b) TFEU and the conditions set out in the Temporary Framework. On this basis, the Commission approved the aid measure under EU state aid rules.

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Executive Vice President Margrethe Vestager (pictured), in charge of competition policy, said: “This €1bn scheme will enable Cyprus to support companies and self-employed persons affected by the coronavirus pandemic through the provision of state guarantees on loans. The scheme will help these companies address the liquidity shortages they face due to the ongoing crisis. We will keep working together with member states to find the best solutions to support companies during these difficult times, in line with EU rules.”

A press release is available online.

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Commission welcomes next step on the approval of the recovery and resilience plans of Croatia, Cyprus, Lithuania and Slovenia

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The European Commission has welcomed the positive exchange of views on the Council implementing decisions on the approval of national recovery and resilience plans for Croatia, Cyprus, Lithuania and Slovenia held on 26 July, at the informal videoconference of EU Economy and Finance Ministers (ECOFIN). These plans set out the measures that will be supported by the Recovery and Resilience Facility (RRF). The RRF is at the heart of NextGenerationEU, which will provide €800 billion (in current prices) to support investments and reforms across the EU. The Council implementing decisions will be formally adopted by written procedure shortly.

This formal adoption will pave the way for the payment of up to 13% of the total allocated amount for each of these member states in pre-financing. The Commission aims to disburse the first pre-financing as quickly as possible, following the signing of the bilateral financing agreements and, where relevant, loan agreements. The Commission will then authorise further disbursements based on the satisfactory fulfilment of the milestones and targets outlined in each of the Council Implementing Decisions, reflecting progress on the implementation of the investments and reforms covered in the plans.

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