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Green Monday 2025: Cyprus Embraces Tradition And Renewal

by THEFUTURE.TEAM

February 28, 2025

Green Monday marks a turning point in Cyprus as the island gears up for the beginning of Lent on March 3, 2025. This cherished day—akin to Greece’s Clean Monday—ushers in a season of fasting, reflection, and cultural celebration, where locals renew their spirits and connect with centuries-old traditions.

A Time-Honored Ritual Reinvented

Historically, Green Monday signaled the end of Carnival and the start of Lent, a period steeped in spiritual purification. Today, Cypriots observe this day by abstaining from food, drink, and other indulgences from dawn until sunset. It’s a call for inner cleansing, prompting believers to enter Lent with a pure heart and clear intentions. Traditional practices, such as the preparation of ‘lagana’—a special type of unleavened bread with ancient biblical roots—underscore the day’s significance.

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Traditions That Define A Culture

On Green Monday, the atmosphere transforms as communities gather for picnics and prayer, and children take to the skies with kites—a time-honored symbol of letting go and starting afresh. Families often venture into the countryside to savor the fresh air and partake in outdoor activities, while the creation of ‘Lady Lent’ (Kyra Sarakosti) by children adds a playful touch to the solemnity of the day.

Traditional culinary delights also take center stage. Signature dishes such as octopus prepared in white sauce (‘Xtapodi Krasato’), tarama salad, semolina pudding, and ‘Mydopilafo’ reflect the region’s rich gastronomic heritage, reserved exclusively for this special occasion.

A Brief Historical Snapshot

Green Monday’s roots run deep. As early as the 4th century, Christians embraced fasting, and by the 5th to 12th centuries, evolving religious practices allowed for a midday break in the fast. Despite the passage of time—and even amidst modern challenges such as recent violent events—the spirit of Green Monday remains unbroken, serving as a reminder of both renewal and resilience.

Observing Green Monday In Cyprus

For those wishing to immerse themselves in this unique celebration, consider joining the locals in simple yet profound traditions:

Fly Kites: Ascend to a high vantage point or head to open fields with friends and family to watch colorful kites dance across the sky.
Embrace Nature: Take a leisurely trip to the countryside, pack a picnic, and let the fresh air rejuvenate your senses.
Craft ‘Lady Lent’: Engage with local customs by creating Kyra Sarakosti, a unique doll fashioned from dough or cardboard. Notably, Kyra is designed without a mouth or ears and features seven legs. Each week until Easter, children ceremoniously trim one of her legs, symbolizing the passage of time and the spirit of renewal.

A Day of Renewal And Joy

Green Monday in Cyprus is more than a day of fasting—it’s a celebration of renewal, community, and the enduring power of tradition. As families gather to share meals, exchange stories, and participate in communal activities, the day reinforces a collective commitment to spiritual and cultural well-being.

For visitors, embracing these customs offers a window into the heart of Cypriot life—a vibrant blend of solemnity and celebration that marks the beginning of an auspicious season. Happy Green Monday, and may it bring a fresh start filled with peace and purpose.

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EBA Unveils 2024 Report to Strengthen Supervisory Convergence Across the EU

by THEFUTURE.TEAM

October 27, 2025

Overview

The European Banking Authority’s 2024 annual report details a comprehensive effort to harmonize supervisory practices across the European Union. The report outlines strategic initiatives across prudential supervision, resolution and crisis management, digital finance, consumer protection, and the interim AML/CFT framework until the end of 2025. This marks a decisive step in implementing further recommendations from the EBA’s evaluation of regulatory efficiency.

Consolidating Prudential Supervision

The EBA’s European Supervisory Examination Programme for 2024 focused on critical areas such as liquidity and funding risk, interest rate risk, and the operationalization of recovery measures. With risk levels remaining stable amidst ongoing challenges in data quality, stress testing, and modelling assumptions, the EBA is set to intensify its monitoring activities for online deposit platforms and oversee compliance with Supervisory Outlier Tests in 2025.

Advances in Resolution And Crisis Management

In the realm of resolution, the report highlights significant progress in operationalizing resolution tools, notably the bail-in mechanism in cross-border environments. Improved coordination among authorities, enhanced management information systems, and persistent efforts to refine data quality and legal recognition issues underpin this advancement.

Strategic Developments in Digital Finance

With digital finance at the forefront, the EBA has prioritized its preparations for the implementation of the EU’s Markets in Crypto-Assets Regulation. Efforts include the supervision of asset reference tokens and e-money token issuers, the development of an EU-wide supervisory handbook, and the coordination of workshops aimed at establishing a unified supervisory approach from the outset.

Enhancing Consumer Protection And AML/CFT Measures

The report also underscores improved cooperation and risk-based supervision among national authorities in consumer protection and AML/CFT. Notable progress has been achieved through AML/CFT college monitoring and implementation reviews, as the EBA prepares for the eventual transfer of AML/CFT supervisory responsibilities to the new EU Anti-Money Laundering Authority by the close of 2025.

Fostering A Common Supervisory Culture

Beyond sector-specific improvements, the EBA continues to champion supervisory convergence through robust cross-border initiatives including peer reviews, Q&A sessions, breach of Union law investigations, and comprehensive training programmes. In 2024 alone, 23 courses were delivered to over 3,000 participants, reinforcing best practices and aligning supervisory standards throughout the EU.

Future Trajectory

Looking ahead, the EBA is set to place greater emphasis on the effective implementation of the Single Rulebook. This strategic pivot will enhance supervisory outcomes and ensure the consistent application of regulatory measures, as reflected in the annual reports to the European Parliament and the Council under the Supervisory Review and Evaluation Process.

With these measures, the EBA reaffirms its commitment to building a unified and resilient supervisory framework, essential for navigating the complex regulatory landscape of the European financial sector.