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Cyprus Presidency Of The EU: Championing Consumer Rights And Digital Market Integrity

The Cyprus Presidency of the European Union is setting a clear agenda, with the European Consumer Organization (BEUC) playing a pivotal role in shaping the strategic landscape for consumer protection and economic fairness across member states. In a comprehensive 40‐page memorandum, BEUC has outlined targeted measures to promote consumer interests within the EU’s legislative and non‐legislative frameworks.

Setting The Strategic Agenda

BEUC’s document, titled “Cyprus Presidency Of The European Union – BEUC Priorities 2026,” delineates actionable initiatives and policy recommendations. The organization expects the Cyprus Presidency of the Council of the EU to facilitate the promotion and completion of measures that benefit consumers and address long-standing issues across multiple sectors, ensuring that legislative reform remains closely aligned with societal and economic needs.

Enhancing Passenger Rights And Service Standards

The memorandum outlines robust measures for reinforcing the rights of air passengers, emphasizing that compensation rights in cases of flight delays and cancellations should be preserved and not curtailed. BEUC advocates for innovative mechanisms such as automated refunds and harmonized enforcement authorities to ensure consumer claims are straightforward and effective. Moreover, it calls for stringent regulations on electronic booking intermediaries, extending beyond air travel to other transportation sectors, and demands that carry-on luggage be included at no extra cost in the base ticket price.

Ensuring A Fair And Transparent Digital Environment

In the digital domain, BEUC stresses the importance of a fair-by-design ecosystem that empowers consumers and safeguards them from deceptive practices. The recommendation for a one-click cancellation option for subscriptions exemplifies the need for simplicity without compromising consumer rights. The organization underlines that digital service providers must respect consumer privacy, particularly in an era where artificial intelligence and profitability pressures threaten to erode personal data protections.

Prioritizing Confidentiality And Data Protection

The memorandum insists on the confidentiality of electronic communications, arguing that broad legal grounds for data processing should be stringently limited. Any processing of communication data for statistical purposes must be accompanied by robust safeguards and restricted to public interest objectives. BEUC calls for both devices and software to be configured to ensure the highest possible privacy standards, with explicit consumer consent required for behavioral tracking.

Advancing High-Quality Digital Services And Infrastructure

Consumer access to high-quality, affordable internet services is deemed essential for full participation in a digital society and economy. The document argues for investment in broadband infrastructure that commensurately increases competition, maintains net neutrality, and avoids market distortion. Achieving connectivity ambitions for 2030 will also require targeted development in underserved and remote areas, placing particular emphasis on supporting vulnerable consumer groups.

Protecting Public Health And Consumer Safety In Cosmetics

The memorandum also addresses EU legislation on cosmetics, particularly the prohibition of carcinogenic, DNA-altering, or toxic substances. BEUC warns against any dilution of these standards, emphasizing that clear, reliable chemical labeling for consumers is vital for protecting both public health and the environment. Access to comprehensive product information will allow informed consumer choices well before the point of purchase.

Designing A Consumer-Centric Digital Euro

A forward-looking section of the document discusses the digital euro, advocating for a design centered on consumer interests and guided by public benefit rather than private banking motives. The digital currency should adhere to strict privacy norms, enable anonymous transactions within defined limits, and be accessible to all users free of charge. Additionally, mechanisms for fraud protection, such as chargeback processes, are recommended to ensure continued reliability and consumer trust alongside traditional cash options.

Strengthening Enforcement And Cross-Border Cooperation

Lastly, BEUC highlights the need for more robust enforcement mechanisms across member states. Relying solely on national authorities has proved inefficient. The European Commission should be empowered to lead cross-border investigations and impose sanctions when traders fail to comply with consumer protection commitments. Strengthening the independence and resource allocation of the Commission, including its data protection efforts, will help ensure that consumer rights are consistently upheld throughout the EU.

In sum, BEUC’s comprehensive roadmap provides clear directives that can help transform the EU’s consumer protection framework. By aligning legislative reforms with digital innovation and consumer-centric principles, the Cyprus Presidency has the opportunity to set enduring standards that benefit society as a whole.

Bank of Cyprus Upgrade Signals Fresh Optimism For Greek And Cypriot Banks

Regional Banks Enter A More Favorable Cycle

Bank of Cyprus and Eurobank are well positioned to benefit from a renewed re-rating of Greek and Cypriot bank stocks, according to Cyprus-based investment firm Roemer Capital, which upgraded Bank of Cyprus to a buy rating and reaffirmed its positive view on Eurobank.

The firm cited easing geopolitical tensions, resilient economic growth in Greece and Cyprus, lower funding costs and Greece’s expected transition to developed-market status as the main factors supporting the sector.

Roemer Capital also lowered its cost of equity assumptions, updated its forecasts following first-quarter 2026 results and extended its valuation horizon to the end of 2027, raising target prices across its banking coverage.

Bank Of Cyprus Gets The Largest Upgrade

Bank of Cyprus received the biggest revision, with Roemer Capital upgrading the stock from hold to buy and setting a target price of €11.10, implying potential total upside of 27%.

The firm highlighted the bank’s strong capital generation, profitability and projected 100% dividend payout, describing it as the strongest capital-return story among the banks under coverage. Roemer Capital maintained its buy rating on Eurobank, assigning a target price of €4.90 and forecasting potential upside of 28%. The report said the bank is well placed to benefit from loan growth, improving operating performance and merger-and-acquisition synergies.

National Bank of Greece and Piraeus Bank also retained buy ratings, with expected returns ranging from 25% to 36%. Optima Bank was upgraded to buy, while Alpha Bank remained at hold on valuation grounds.

Why Growth Still Sets The Region Apart

According to Roemer Capital, Greek and Cypriot banks continue to benefit from stronger economic fundamentals than many western European peers. The report pointed to faster economic growth, healthier balance sheets, low levels of non-performing exposures, capital ratios approaching 20% and strong customer deposit bases.

Analysts expect performing loans across the sector to grow at a compound annual rate of 6% to 8% through 2028, supported by private investment, digitalisation, green manufacturing, supply-chain expansion and a gradual recovery in household lending.

The report also said the conclusion of lending under the EU Recovery and Resilience Facility is unlikely to materially affect credit growth, as banks have already shifted back towards traditional commercial lending. Roemer Capital expects Euribor to remain between 2.2% and 2.5%, a level it believes should support both lending activity and net interest margins.

Geopolitics, Valuation And Market Structure Support The Case

The report said improving geopolitical conditions have strengthened the investment outlook, noting that Brent crude prices have largely returned to pre-war levels while Greek government bond yields have stabilised at around 3.5%. Although geopolitical risks remain, Roemer Capital believes the likelihood of a major inflationary shock or significant pressure on bank profitability has eased.

Another important catalyst identified by the firm is Greece’s expected promotion to developed-market status by FTSE Russell, STOXX and MSCI over the coming months.

According to the report, the reclassification should improve liquidity and attract a broader base of international investors. Roemer Capital also said Euronext’s acquisition of the Athens Exchange is expected to strengthen market infrastructure and increase international visibility, particularly for Bank of Cyprus and Optima Bank.

The firm noted that Bank of Cyprus has already benefited from its Athens listing, with average daily trading value increasing from less than €400,000 before its September 2024 move to nearly €6 million afterwards.

Economic Momentum Remains A Core Tailwind

Roemer Capital said both Greece and Cyprus have moved beyond post-crisis recovery and are now supported by private-sector-led growth. For Cyprus, the report highlighted recent tax reform and efforts to simplify the legal and regulatory framework, while also noting that limited foreign banking competition continues to support domestic lenders.

Overall, Roemer Capital expects Greek and Cypriot banks to remain well-positioned for profitable loan growth over the coming years.

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