Cypriot Finance Minister discusses regional economic impact at ECOFIN meeting

Cypriot Finance Minister Makis Keravnos, who presided over the ECOFIN council meeting in Brussels, addressed the impact of ongoing Middle Eastern hostilities on the global and European economy. Keravnos stated that despite Cyprus's geographic proximity to regional conflicts, specifically mentioning the war involving Iran, the country remains safe and life continues normally. He confirmed that preventive measures have been implemented and that the national airspace remains open. The minister expressed gratitude toward Greece, France, Italy, and Spain for their swift assistance in protecting citizens. Finance ministers at the meeting discussed potential measures to mitigate the negative economic consequences of the regional instability. Discussions regarding the necessity of proportionality in addressing these impacts were held, following similar talks at the Eurogroup. No specific financial aid decisions were announced during this session.