Cyprus Minister of Finance, Mr. Makis Keravnos, attended the 17th Limassol Economic Forum on October 23, 2026, delivering a speech on Europe’s role amid global challenges.
On Friday, October 23, 2026, the Minister of Finance of the Republic of Cyprus, Mr. Makis Keravnos, participated in the 17th Limassol Economic Forum, organized by IMH at the Parklane Resort & Spa in Lemesos.
He delivered a speech on behalf of the President of the Republic of Cyprus, Mr. Nikos Christodoulides, titled “Navigating Through Turbulent Times: The Role of the European Union (EU) and Cyprus”.
In his address, Mr. Keravnos highlighted the complex international environment characterized by conflicts, geopolitical tensions, trade disruptions, energy crises, technological revolutions, and climate change. He emphasized that no country can address these challenges alone, underscoring the importance of EU cooperation for economic stability and social cohesion.
Regarding Europe’s stance on international competition, he stated that the response must balance autonomy and openness, reflecting the motto of Cyprus’s EU Presidency: “An Autonomous Union. Open to the World”.
He also stressed that fiscal stability remains a core objective of European economic policy, asserting that flexibility and fiscal discipline are compatible.
In Cyprus, Mr. Keravnos noted the country’s resilience through prudent fiscal policies, debt reduction, financial stability, and reforms, which have enhanced its credibility and competitiveness. He highlighted Cyprus’s role as a bridge between Europe and the Middle East, contributing to European policies and regional cooperation.
He concluded by emphasizing the need to adapt to changing conditions while maintaining fundamental principles of fiscal stability, economic responsibility, and long-term prosperity, summarizing this approach as: “Change without loss of stability. Adaptation without abandoning fundamental principles. Flexibility without retreating from fiscal discipline”.
