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Eurobank Backs €2 million Autism Care Centre In Strovolos As Winning Design Is Unveiled

Eurobank has unveiled the winning architectural proposal for a €2 million day centre for people at the most severe end of the autism spectrum, advancing a project that aims to combine specialist care, dignity and long-term social impact in Strovolos.

The proposal was presented at a special event attended by President Nikos Christodoulides, Deputy Minister of Social Welfare Tina Pavlou and Eurobank Group chief executive officer Michalis Louis.

A Social Investment With A Clear Purpose

The centre will be built in the Ayios Dimitrios parish of Strovolos and is designed to provide a modern care and support facility for people with the highest levels of autism-related needs. Eurobank will cover the full cost of the project, while the Deputy Ministry of Social Welfare will assume responsibility for operating the centre once construction is completed.

The initiative reflects a partnership model increasingly favoured by policymakers and corporate leaders: private capital delivers the infrastructure, while the state ensures continuity, oversight and public access. In this case, the project is being positioned not merely as a charitable donation, but as a long-term response to a clearly identified social need.

Strong Interest From The Design Community

The architectural competition attracted substantial interest, with 37 architectural practices and study teams submitting proposals for a project defined by demanding technical specifications and a strong social mission. The first prize was awarded to the architectural team of Chrysostomos Theodoropoulos, Eleni Livani and Panayiota Karamanea.

A total of eight architectural studies received prizes or distinctions. Their projects will be exhibited at the Anastasios G Leventis Building of the University of Cyprus from October 2 to October 7, offering the public and the professional community an opportunity to review the shortlisted concepts.

Designing For Dignity And Daily Life

Deputy Minister of Social Welfare Tina Pavlou said the centre must do more than provide a secure physical environment. The objective, she stressed, is to create a meaningful daily life for those who will use it.

“The aim was not simply to provide a safe place to stay, but to create a meaningful daily routine, personalised support, opportunities for participation and respect for each person’s abilities and needs,” Pavlou said.

That emphasis reflects a broader shift in care design, where architecture is increasingly expected to support autonomy, reduce stress and improve daily functioning for highly vulnerable groups. For individuals at the most severe end of the autism spectrum, the built environment can be as important as the services delivered within it.

State And Private Sector In Alignment

President Nikos Christodoulides thanked Eurobank for what he described as a significant donation and for taking responsibility for overseeing and managing the implementation of the project.

“An offering acquires particular social added value because it targets and responds to an identified real need, forms part of an organised plan and creates lasting social benefit,” he said. “This is exactly what is happening in this case.”

Michalis Louis congratulated the winning architects and the teams that received distinctions, noting that the project had originated from a substantial social need and was now moving into a concrete stage of development.

“Our aim is to create the infrastructure and the conditions that will provide care, support, independent living and prospects for people with autism,” Louis said.

He added that the project reflects the importance Eurobank Group places on initiatives with genuine social impact and its long-term commitment to a society without exclusion and with equal opportunities for all.

Louis also thanked the Deputy Ministry of Social Welfare for its cooperation, describing the initiative as a clear example of what can be achieved when the public and private sectors work toward a shared objective.

Architecture With A Therapeutic Mission

Speaking on behalf of the winning team, architect Chrysostomos Theodoropoulos said the building had been designed to reduce complexity while strengthening a sense of control and security for people at the most severe end of the autism spectrum.

The project seeks to address the specific environmental and support needs of people requiring a high level of assistance, while providing a dedicated facility capable of supporting everyday life with consistency and care.

In practical terms, the planned centre represents more than a construction project. It is a long-term institutional commitment: Eurobank is financing the building, and the Deputy Ministry of Social Welfare will take responsibility for its operation. If delivered as intended, it will stand as an example of how coordinated public-private action can move beyond symbolism and translate into lasting social infrastructure.

ESMA Pushes EU To Tighten Crypto Rules On Fraud, Influencers And DeFi Risk

The European Securities and Markets Authority is pressing Brussels to strengthen the European Union’s crypto rulebook, warning that the current framework leaves gaps that can be exploited by fraudsters, unregulated promoters and fast-evolving digital asset business models.

A Regulatory Reset For A Fast-Changing Market

In a set of recommendations to the European Commission, ESMA said the bloc should simplify its crypto regime while tightening investor protections and adapting to developments such as decentralised finance, staking, lending and borrowing. The regulator’s central message is clear: Europe needs a framework that is easier to apply, but harder to abuse.

That balance matters. Crypto markets have expanded beyond simple token trading into a broader ecosystem that includes yield products, liquidity services and increasingly complex structures. Regulators, ESMA argued, must keep pace with that shift rather than rely on rules designed for an earlier stage of the market.

Tougher Rules For Promotion And Disclosure

Among ESMA’s main proposals are stricter standards for crypto marketing, particularly where digital assets are promoted by online influencers and third parties. The authority wants clearer safeguards around promotional activity that can mislead retail investors or obscure the risks involved.

It is also calling for greater transparency on fees and costs across the sector, alongside proportionate disclosure requirements for staking, lending and borrowing products. Those disclosures, ESMA said, should spell out the relevant costs, risks, rewards, collateral arrangements and the possibility of losses before an investor commits capital.

For a market often marketed on speed and simplicity, the regulator’s message is that complexity must be laid bare rather than glossed over.

Sharper Tools Against Fraud And Non-Compliant Firms

ESMA is also seeking stronger supervisory powers to tackle unauthorised services, online fraud and stablecoins that do not meet EU standards. That includes improving the bloc’s ability to detect, block and deactivate fraudulent websites, as well as freeze crypto assets where there is suspicion of market abuse or terrorist financing.

The watchdog wants a firmer approach to firms based outside the EU that solicit European investors without authorisation under the Markets in Crypto-Assets regime, known as MiCA. It is also pushing for explicit rules preventing regulated crypto firms from offering services linked to stablecoins that fail to comply with MiCA requirements.

The goal is to speed up enforcement and reduce the scope for regulatory arbitrage, where firms exploit differences in national supervision or jurisdictional loopholes to sidestep tighter oversight.

Clarifying DeFi And Token Classification

As decentralised finance and stablecoins continue to grow, ESMA says the EU needs clearer criteria for determining which activities are truly decentralised and which should fall under regulatory supervision. It also proposes the creation of a new regulated crypto-asset service for firms that give users access to DeFi protocols.

At the same time, the authority wants more certainty around how crypto-assets are classified, including newer structures such as hybrid tokens. To reduce inconsistency across the single market, ESMA suggests giving itself the power to issue binding opinions on token classification so that identical products are treated the same across the EU.

That move would not only support harmonised enforcement, but also help firms navigate a market where the boundary between financial instrument, utility token and payment asset is increasingly blurred.

Simplification Without Weakening Oversight

Despite its tougher posture on fraud and consumer protection, ESMA also supports parts of the EU’s broader simplification agenda. It recommends streamlining crypto-asset white paper notification procedures, cutting duplicate authorisation requirements for some regulated firms and improving the consistency of prudential rules.

In practice, that would aim to reduce compliance friction for legitimate businesses without sacrificing supervisory standards. For established firms, the benefit would be fewer procedural overlaps; for investors, the gain would be clearer and more consistent protections.

Looking Beyond MiCA

ESMA’s proposals do not stop at the immediate review of MiCA. The authority says the EU should also prepare a framework for tokenised securities and on-chain settlement, laying the groundwork for a more integrated European tokenised capital market.

That longer-term vision points to a future in which securities issuance, trading and settlement increasingly move on-chain, with cross-border activity made easier by common rules and interoperable infrastructure. For Europe, the stakes are significant: get the framework right, and the bloc could become a serious hub for regulated digital finance. Get it wrong, and activity may migrate to jurisdictions that can move faster.

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