Cypriot Finance Minister calls for flexibility in EU economic policy

On October 23, 2026, Cypriot Finance Minister Makis Keravnos addressed the 17th Limassol Economic Forum, advocating for greater flexibility in European economic policy. Speaking on behalf of the President of the Republic, Keravnos emphasized that while fiscal stability remains a non-negotiable goal, EU economic governance must incorporate mechanisms to adapt to changing international conditions. He argued that rigid regulations can undermine the stability they aim to protect and called for reduced bureaucracy and simplified rules.

Keravnos highlighted the resilience of the Cypriot economy, attributing it to prudent fiscal policy, consistent reduction of public debt, a stable financial system, and the successful implementation of structural reforms. He asserted that these actions have bolstered the nation's credibility and competitiveness. Furthermore, the Minister stressed that Cyprus continues to act as a strategic bridge for cooperation between Europe and the Middle East, despite its small size.

Looking ahead, the Minister underscored the necessity of moving away from outdated assumptions in policy formulation. He maintained that Cyprus will continue to contribute actively to European policy-making and the pursuit of collaborative solutions, balancing national economic responsibility with the evolving needs of the broader region.