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President of the Republic of Cyprus Demetris Christofias has participated in the Brussels Informal Meeting of EU heads of state and government during which the leaders agreed on a common position ahead of the G20 summit next week in Pittsburgh, USA.

In statements after the meeting, which was concluded Thursday evening, President Christofias said that the EU leaders adopted the EU positions on exit strategies from measures taken to recover economy, on the reinforcement of the supervision of the financial system, on limiting bonuses of high ranking officials of banks, which have received state support during the crisis, as well as on the strengthening of the International Monetary Fund.

President Christofias also referred to the common EU position on financing efforts to deal with the repercussion of climate change, ahead of the Climate Change Conference that will take place in December in Copenhagen.

The EU, President Christofias said, aims to increase changes so that in Copenhagen a global, ambitious agreement is reached on climate change.

“Cyprus fully shares the view that climate change needs immediate action on European and global level”, he stressed.

The Cypriot President noted that Cyprus agrees on the distribution of aid on global level towards the world’s poorest countries on the basis of just criteria, to help them deal with the negative impact of climate change.

Regarding exit strategies from measures taken to recover economy, President Christofias said that Cyprus shares concerns regarding the sustainability of economic recovery.

“We believe that the international community should act in a coordinating manner to achieve a strategic exit from the support measures already taken. This should take into consideration the nature of each country and each economy” he said.

The Cypriot President added that Cyprus “deems that policies adopted should support and boost employment and maintain social cohesion”, he concluded.

The Republic of Cyprus became a full EU member state in May 2004. Cyprus will assume the EU presidency during the second half of 2012.

September 18, 2009 - by Nicos Bellos (CNA) , Financial Mirror|||Cyprus President Christofias on EU common positions ahead of G20 summit
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