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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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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.