Strategic Tourism Alliance: Strengthening Greek-Cypriot Cooperation

by THEFUTURE.TEAM

September 16, 2025

Elevating Cross-Border Tourism Initiatives

Deputy Minister of Tourism Kostas Koumis recently met with Athina Spakouri, Head of the Greek National Tourism Organisation’s Office in Cyprus, to explore strategic opportunities that could enhance the bilateral tourism framework. Their conversation centered on addressing both current challenges and future growth prospects within the sector.

Enhanced Marketing and Stakeholder Engagement

The officials delved into actionable strategies for more effective promotion of Cyprus and Greece’s unique tourism offerings, emphasizing the importance of integrating marketing efforts with robust stakeholder collaboration. By aligning their initiatives, both sides aim to tap into the increasing demand for enriched travel experiences that pay homage to their intertwined cultural and historical narratives.

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Commitment to Expanding Mutual Interests

Deputy Minister Koumis underscored the Ministry’s dedication to amplifying the presence of the Greek tourism market in Cyprus while extending full support to the Greek National Tourism Organisation’s local office. This collaborative approach not only aims to upgrade the quality of tourism services but also leverages shared heritage, language, and economic ties as a conduit for heightened travel between the two nations.

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ECB Raises Deposit Facility Rate For First Time In Nearly Two Years

by THEFUTURE.TEAM

June 15, 2026

Economic Shift: ECB Reverses Years Of Declining Rates

The European Central Bank (ECB) confirmed its first interest rate increase in nearly two years, raising the deposit facility rate in response to inflationary pressures and geopolitical uncertainty. Marking a shift in monetary policy, the move follows a period of rate cuts aimed at supporting economic activity and easing financing conditions.

Reevaluation Of Bank Liquidity Strategies

Although the immediate impact will be felt by only part of the borrowing market, the decision carries broader implications for banks. During the period of lower rates, banks maintained significant amounts of excess liquidity with the ECB as returns on these funds declined alongside deposit rates. With the deposit facility rate increasing by 0.25 percentage points to 2.25% from 2.00%, returns on surplus liquidity are expected to improve.

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Higher interest rates, however, could also increase borrowing costs and influence lending conditions across the banking sector.

Transitioning Investment Approaches And Market Dynamics

Banks had already begun diversifying the use of excess liquidity through investments in bonds and by expanding lending activities.

Successive reductions in the deposit facility rate from 3.00% at the end of 2024 through four consecutive cuts in early 2025 reflected a more accommodative policy stance as inflation pressures moderated.

Sectoral Impact And Future Outlook

Data from the ECB’s 2025 monetary policy report show that liquidity in the Cypriot banking system declined from €19.2 billion at the end of 2024 to €18.6 billion by the close of 2025. Despite the reduction, liquidity levels remained elevated. Outstanding loans increased from €27.6 billion to €31.7 billion, while deposits recorded a slight decline. Customer deposits continued to account for the vast majority of funding. By the fourth quarter of 2025, they represented 95% of total liabilities, highlighting their importance as the banking sector’s primary source of financing.

Changes in ECB rates are expected to influence how banks manage liquidity and allocate capital as monetary conditions evolve.

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