Pablo Zalba spoke at The Economist conference in Cyprus

The Vice-President of the Economic and Monetary Affairs Committee, Pablo ZALBA, was among the distinguish speakers at the Conference of The Economist which was co-organized by the European Parliament Office in Cyprus and the Jean Monnet Chair of the University of Nicosia. MEP P. ZALBA called for the speedy conclusion of the European Banking Union so as to reduce the negative effects of the crisis on the Eurozone. "A basic element of the EU is the principle of solidarity and this should be the compass assisting efforts towards recovery of the economy of Cyprus and other EU countries", he added.

President of the Republic of Cyprus, Nicos Anastasiades, addressing the conference said that Cyprus’ ailing economy is on the mend. In his speech, President Anastasiades presented recent indications for the economy, the positive Troika reviews on the implementation of Cyprus’ adjustment programme, as well as the efforts undertaken by the government to restart the economy.

On his behalf Finance Minister Harris Georgiades said that there is no “deus ex machina” for the Cyprus economy, but the government has made a plan and remains focused and committed on that. IMF representative of the Troika in Cyprus Delia Velculescu prompted the Cyprus government to take advantage of the positive momentum created for the economy and to proceed with the agreed changes, adding that the tough decisions have already been taken.

During the Conference the EPIO in Cyprus promoted the EE2014 with banners and by distributing relative Election 2014 leaflets.

Media wise the conference received thorough and extensive coverage from all Cyprus media (broadcast, press and online), monopolizing a large part of the main evening news bulletins, mainly due to the high-profile speakers in attendance.

Spanish deputy chair of the EP Economic and Monetary Affairs Committee MEP Pablo Zalba (EPP) addressed the event, and his speech was referenced by Politis (press and online), Cyprus Daily, Kathimerini online, Sigmalive.com, and 24h.com.cy – the latter of which dedicated the entire article to the MEP’s speech. All articles noted that Zalba called for the speedy conclusion of a banking union within the European family in a bid to confront its economic woes remarking "We are all in the same boat". Stressing that a banking union would solve all problems long-term and short-term and underlining the important role the European Central Bank could then play, he said that "what's best is to send the message that we are serious about the banking union." A basic element of the EU is the principle of solidarity and this should be the compass assisting efforts towards recovery of the economy of Cyprus and other EU countries, he added. He noted that today the EU faces a problem of funding its enterprises, while he recalled the statement made by former ECB president Jean-Claude Trichet that the Euro is our common fate. He further stated that the government of the Cyprus Republic has recorded exceptional progress under admittedly difficult conditions.

As the event served as a forum for all stakeholders and views to be aired all press and web sources dedicated a considerable number of pages and articles to covering the event and statements of each speaker, with most of Tuesday’s press editorials referring to these statements.