Cyprus Strengthens Fire Protection In Mountain Villages

by THEFUTURE.TEAM

February 13, 2025

Cyprus is taking strong measures to combat the increasing risk of wildfires in its mountain villages. A new strategy, introduced by the Forestry Department and Mountain Commissioner Charalambos Christophinis, aims to protect both the environment and local communities.

Main Causes Of Rising Fire Risk

The risk of wildfires has grown due to rural abandonment and climate change. These factors have caused a dangerous buildup of flammable material. Prolonged droughts and lack of rainfall have only made the situation worse. Authorities are particularly concerned about the mountainous and semi-mountainous regions, where the risk to lives and property is highest.

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Creating A Fire-Resistant Barrier

A key component of the new plan is the creation of a “protective ring” around vulnerable areas. This protective ring will be placed within a two-kilometer radius of state forests. The goal is to reduce the accumulation of flammable material, making it harder for fires to start and spread.

Collaboration For Success

These measures are part of the ‘Vegetation Management Study for Fire Protection of Forests and Parasitic Communities’ program. The Ministry of Agriculture will implement these changes within state forests, while local governments will manage areas outside the forests.

Prevention And Vigilance Are Key

“Preventing fires and staying vigilant are our strongest tools,” authorities stated. They emphasized that cooperation from local communities and government bodies is crucial to ensuring the safety of all residents.

Recent Wildfires Highlight Urgency

Cyprus has faced severe wildfires in recent years, including one in June that destroyed more than 3,300 hectares of land and forced evacuations. The Paphos area was hit hardest, with nearly two dozen homes damaged. While no lives were lost, the event highlighted the urgent need for better fire prevention strategies. The wildfire season typically begins in late April and lasts for several months.

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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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