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EU Economic Challenges Top Agenda at First Finance Council Under Cypriot Presidency

Published January 22, 2026, 12:30
EU Economic Challenges Top Agenda at First Finance Council Under Cypriot Presidency

Minister of Finance Makis Keravnos led Cyprus at the first EU Council of Ministers for Finance under the Cypriot Presidency. The Council discussed the challenges facing the European economy, as well as the implementation of the Recovery and Resilience Plan, which Cyprus will be responsible for managing until mid-2026. In addition, the issue of continued funding for Ukraine was discussed, due to the ongoing needs resulting from the Russian invasion. A first discussion was also held on international developments, with a focus on the situation in Greenland, which is also of concern to other EU member states. Mr. Keravnos stressed the importance of the Recovery and Resilience Plan for the EU, as it includes all development expenditure. The Cypriot Presidency will play a critical role in the successful implementation of the plan in the coming years. The Finance Council is an important platform for discussing and coordinating the economic policies of EU member states, as well as for addressing common challenges.

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