In Protaras, a New Sculpture Frames Cyprus’s Unfinished Journey

by THEFUTURE.TEAM

September 25, 2026

A new public artwork in Protaras is turning a coastal promenade into a place of reflection, memory and national significance.

The sculpture, Cyprus’ journey through the ages, by acclaimed Cypriot artist Philippos Yiapanis, was unveiled on Saturday, September 19, in the Xistaria area of the Lefkolla promenade. The work, which was previously presented in Salamina, Attica, traces Cyprus’s long historical trajectory while underscoring the enduring ties between Cypriot Hellenism and Greece.

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A Landmark With Historical Weight

Set against the view of occupied Famagusta and ancient Salamis, the sculpture carries a symbolism that extends beyond aesthetics. Its location lends the piece a powerful commemorative dimension, linking remembrance with continuity and hope.

Installed in a prominent public space, the artwork also adds a cultural layer to Protaras, offering residents and visitors a new landmark where art intersects with collective memory and history.

A Donation Rooted In Memory And Identity

The sculpture was donated by the company and family of Chrysostomos and Katerina Papavassiliou and installed with the support of the Municipality of Paralimni-Deryneia. The unveiling took place under the auspices of the Deputy Ministry of Culture.

Chrysostomos Papavassiliou, chairman and chief executive of Limassol-based Island Oil Holdings, said the piece speaks directly to Cyprus’s unresolved division.

He described the sculpture as a deeply symbolic work, noting that Yiapanis had created “half a boat, half an occupied Cyprus,” and calling it “a journey that remains unfinished.”

He added that the artwork is also “a cry of pain for those who were lost forever, those who remain missing, and our uprooted compatriots.”

A Message Aimed At The Future

For Papavassiliou, the donation is not only an act of remembrance but also a statement of intent.

“For us, this donation represents a small contribution to the fight against oblivion,” he said, describing it as “an expression of hope for the reunification of our beloved homeland under conditions of peace, security and respect for our cultural heritage, and through the implementation of the European acquis.”

The company also thanked Yiapanis, Paralimni-Deryneia Mayor Giorgos Nikolettos, and the Municipal Council for their contribution to the cultural life of the area, as well as the Deputy Ministry of Culture and all those involved in organizing and completing the ceremony.

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EU Agrees On Major Overhaul Of Financial Market Supervision

by THEFUTURE.TEAM

October 9, 2026

European Union finance ministers have reached agreement on a sweeping package designed to strengthen oversight of the bloc’s financial markets, in a move aimed at reducing fragmentation and improving the flow of capital across borders.

A Push To Deepen Capital Markets

The Market Integration and Supervision Package, or MISP, would grant the European Securities and Markets Authority direct supervision over major market operators that are currently regulated by national authorities. The reforms are intended to make Europe’s capital markets more integrated, more efficient and better able to channel savings into productive investment.

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According to the Irish presidency, the package is meant to help savings and investments move more freely across the European Union, improving access to finance for companies while giving households broader opportunities to earn returns on their savings.

What The Reform Would Change

Under the new framework, ESMA would take direct oversight of key trading venues, clearing houses, securities settlement bodies and crypto-asset service providers. The package would also establish a permanent, independent executive board within the regulator, strengthening its institutional capacity.

Market operators would be able to opt into a new EU-wide operating framework. In parallel, the reforms would seek to make national supervision more consistent and update rules governing trading, transaction completion, investment management and the use of blockchain technology.

Why The Agreement Matters

Supporters of deeper capital markets argue that Europe has long paid a price for regulatory inconsistency. While many rules are harmonised across the bloc, differences in enforcement and supervision have contributed to a patchwork system that can make cross-border investment slower and more costly.

A more integrated framework, proponents say, could lower costs for companies seeking funding and broaden the menu of investment options available to savers and institutional investors alike.

Outstanding Questions Remain

Despite the broad agreement, some important details remain unresolved. Trading venues operated by Deutsche Börse, the company behind the Frankfurt stock exchange, may remain outside ESMA’s direct supervision.

Euronews previously reported that Germany had secured an exemption for Deutsche Börse’s domestically focused trading venues, leaving part of the system under regional supervision. The latest announcement did not clarify whether that arrangement will stand.

A Step Forward For The Savings And Investments Union

Dutch Finance Minister Eelco Heinen welcomed the deal, calling it a major advance for the Capital Markets Union and saying Europe had made more progress in 10 months than in the previous 10 years.

The agreement is an important milestone in the Savings and Investments Union, the EU’s broader effort to channel more of Europeans’ savings into investments that can support growth, innovation and competitiveness across the bloc.

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