Regional Tourism Board Leads European Initiative to Preserve Intangible Heritage

by THEFUTURE.TEAM

October 31, 2025

Overview Of The European Initiative

The Nicosia Regional Tourism Board has taken a decisive step in preserving Europe’s rich cultural traditions by actively participating in the “Hands Across Generations – Preserving Intangible Heritage through Intergenerational Craft Exchange” project. The initiative, under the auspices of the Erasmus+ VET programme, aims to transfer traditional craft skills from seasoned artisans to vocational education apprentices, ensuring that these valuable techniques are adapted to meet modern digital demands.

Project Kick-Off In Carlow, Ireland

The project’s inaugural meeting was held on October 21–22, 2025, in Carlow, Ireland, hosted by the Carlow Municipal District. As the lead partner, the district set the stage for a collaborative effort focused on safeguarding the continent’s intangible cultural heritage through a structured intergenerational exchange.

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Sustainable Craftsmanship And Digital Integration

Over a 24-month duration from September 2025 to August 2027, the project will implement a variety of activities including research, mentoring workshops, digital literacy training, and cultural events. A standout component of the initiative is the creation of the Digital Heritage Toolkit—a multilingual platform that will offer free educational resources to artisans, vocational schools, and local communities. This digital pivot is designed to enhance the sustainability and reach of traditional craft techniques.

Strengthening European Collaboration

The project brings together a consortium of seven partners from across Europe. Alongside the Nicosia Regional Tourism Board, participants include organizations from Greece, Italy, Finland, Spain, and Lithuania. Coordinated by Carlow County Council, this pan-European partnership is committed to fostering intergenerational cooperation, creativity, and social inclusion, thereby reinforcing the cultural fabric of the continent.

Looking Ahead

By nurturing the transmission of traditional craftsmanship within a modern, digital context, the initiative stands as a prime example of how heritage preservation can drive innovative educational and economic outcomes. This project not only preserves historical know-how but also paves the way for a dynamic integration of cultural traditions within today’s digital economy.

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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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