Nicosia, Cyprus. Central Bank of Cyprus governor Christodoulos Patsalides said productivity must be central to reforms as Cyprus and Europe face slowing growth and structural pressures. Separately, Oceana urged Cyprus to tighten transparency rules on fishing vessel ownership to curb illegal fishing.
Productivity at the core of reform agenda
Speaking at a conference of European Independent Fiscal Institutions in Nicosia, Patsalides said productivity gains strengthen growth potential. He said reforms that do not focus on productivity risk falling short of delivering durable economic outcomes.
Europe’s recent shocks and investment needs
Addressing the conference, titled “Fiscal management in times of change: initial responses”, Patsalides said Europe has faced an exceptional sequence of shocks in recent years. He recalled that the European Central Bank’s decisive interest rate increases to curb inflation had carried a cost, warning that increased debt and reduced fiscal space are emerging as Europe needs investment in defence, technology and the green transition.
Oceana urges tighter rules on fishing vessel ownership
Fisheries transparency emerged as an early test of Cyprus’ leadership of the Council of the European Union, as Oceana called on the government to tighten rules on fishing vessel ownership to curb illegal fishing and protect compliant operators.
With Cyprus holding the EU Council Presidency, the country is at the centre of policy debates beyond national borders, including fisheries governance where environmental protection, economic fairness and regulatory credibility intersect.
In this context, Oceana formally addressed Agriculture Minister Maria Panayiotou, calling for stronger transparency over the ownership of fishing vessels owned by Cypriot citizens or companies but operating under non-EU flags.
The organisation said some operators register vessels in countries with weak regulations and lax controls, enabling them to hide their identities and engage in activities that may not meet the environmental or social standards applied to Cypriot-flagged vessels.
Mediterranean initiative to support women-led businesses
Cyprus hosted the launch of the Mediterranean project SheEmpower in Larnaca, aiming to boost the competitiveness of women-led businesses through entrepreneurship, digital and innovation skills under the Interreg NEXT MED programme.
What steps do you think Cyprus should prioritise to strengthen transparency and accountability in fisheries governance?
