(Jamma) “The Commission has taken note of the measures announced by the President of the Republic of Cyprus Nicos Anastasiades. The decision to lift the casino ban is at the discretion of the Cypriot government, as long as it follows the rules of the game of gambling established by the EU Treaty”. These are the words of the European Commissioner for Economic and Monetary Affairs, Olli Rehn to the question presented by MEP Monika Flašíková Beňová.
“Despite the contraction of the banking sector, – said Rehn – Cyprus continues to offer an attractive business environment thanks to modern telecommunications and infrastructure, a well-educated and skilled workforce, well-developed business services and relatively low tax rates. All this makes Cyprus extremely attractive for foreign direct investment. The combination of such an environment, stability and growth policies coupled with major structural reforms, endorsed by the Economic Adjustment Programme, give hope for a new growth model for Cyprus.
To mitigate the negative economic and social effects related to the recession, the Commission is setting up a Cyprus Support Group, which will assist the authorities in their efforts to reform the growth model of the national economy. Its aim is to do everything in its power to help alleviate the social consequences of the economic shock, by facilitating a rapid emergence of new types of economic activity, through the mobilization of funds from Community instruments, and by supporting the efforts of the Cypriot authorities to restore financial, economic and social stability".
