Toufan Erchiourman Criticizes Energy Strategy, Demands Inclusion Of Turkish Cypriot Rights

by THEFUTURE.TEAM

November 6, 2025

In a pointed Facebook post, Turkish Cypriot leader Toufan Erchiourman leveled criticism at President Nikos Christodoulidis over the handling of the “Great Sea Interconnector” project and other recent energy initiatives across Cyprus. Erchiourman emphasized that as equal co-founders of the island, Turkish Cypriots must not be sidelined when decisions have profound implications for energy infrastructure and maritime jurisdictions.

Historic Position And Sovereign Rights

Erchiourman reiterated that the objections expressed well before the election season regarding the Interconnector project are publicly known. He argued that any resolution related to energy or maritime zones must fully acknowledge Turkish Cypriot rights. This perspective underscores his broader assertion that disregarding these rights compromises the foundational principle of equal partnership in governing the island’s future.

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A Call For Genuine Dialogue

The leader further clarified his position by stating that he would refrain from engaging with southern comments on a comprehensive solution until substantive negotiations begin. While President Christodoulidis advocates for immediate talks, Erchiourman criticized the simultaneous push for projects such as the Israeli natural gas pipeline, which he contends undermines the credibility of the commitment to a balanced and lasting resolution.

Commitment To A Stable Future

Concluding his remarks, Erchiourman asserted that the Turkish Cypriot side remains steadfast in its efforts to cultivate an environment conducive to a durable solution on the island. However, he warned that any initiative jeopardizing this hard-won stability by ignoring Turkish Cypriot interests will not go unchallenged.

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Central Bank Of Cyprus Balance Sheet Reflects Strong Eurosystem Position

by THEFUTURE.TEAM

February 17, 2026

Overview Of Financial Stability

The Central Bank of Cyprus (CBC) has released its latest balance sheet, reaffirming its steadfast role within the Eurosystem. The balance sheet, featuring total assets and liabilities of €29.545 billion, underscores the institution’s stable financial posture at the close of January 2026.

Asset Allocation And Strategic Holdings

Governor Christodoulos Patsalides issued the balance sheet, which details the CBC’s asset composition under the Eurosystem framework. Notably, the bank’s gold and gold receivables amounted to €1.635 billion, providing a significant hedge and stability to its balance sheet. Additional asset categories include claims on non-euro area residents denominated in foreign currency at €1.099 billion, while claims on euro area residents in both foreign and domestic currency add further depth to its portfolio.

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The most substantial asset category, intra-Eurosystem claims, reached €19.438 billion, an indication of the CBC’s deep integration with its European counterparts. Furthermore, euro-denominated securities held by euro area residents contributed €6.587 billion. Despite a marked emphasis on these areas, lending to euro area credit institutions in monetary policy operations recorded no activity during the period.

Liability Structure And Monetary Policy Implications

On the liabilities side, banknotes in circulation contributed €3.218 billion. Liabilities to euro area credit institutions associated with monetary policy operations were notably the largest single category, totaling €17.636 billion. Supplementary liabilities included those to other euro area residents, which aggregated to €4.989 billion, with government liabilities playing a predominant role at €4.754 billion.

Other liability items, such as claims related to special drawing rights allocated by the International Monetary Fund at €494.193 million, and provisions of €596.571 million, further articulate the CBC’s exposure. Revaluation accounts stood at €1.643 billion, and overall capital and reserves were confirmed at €333.822 million, completing the picture of a well-capitalized institution.

Conclusive Insights And Strategic Alignment

The detailed breakdown illustrates the CBC’s sizeable intra-Eurosystem exposures, reinforcing its central role within Europe’s monetary landscape. With an asset-liability balance maintained at €29.545 billion, the CBC’s financial position remains robust, indicating a commitment to structural stability and strategic risk management.

This fiscal disclosure not only provides transparency into the CBC’s operations but also serves as a benchmark for comparative analysis among other central banks within the Eurosystem, highlighting the intricate balance between asset liquidity, regulatory oversight, and monetary policy imperatives.

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