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Cyprus is being urged to look ahead and embrace financial reforms that could transform the country.
Former commissioner for employment and social affairs, Anna Diamantopoulou, has claimed that the country need to be making the most of the opportunity afforded it by planned economic changes to ensure that it is in a good position to prosper in the future. Cyprus is already becoming an established centre of property investment and in recent years has taken significant steps in becoming a more modern economy.
Such steps need to be continued, according to Ms Diamantopoulou, if Cyprus is to fully reap the benefits of membership to the European Union in the future. "Cyprus' economic indices are good, and now is the time to make reforms so that it can meet the great demands of the future," she commented.
"Cyprus has the obligation but not the luxury to lead in the political agenda of Europe, not just with its political problem, but with its performance, experience and reforms."
As the country looks to cement its position as a stable economy at the heart of the European Union, it also received warm praise from former commissioner for competition within the EU, Mario Monti. "Cyprus is displaying figures for its economic performance that we would like to see in many other member states of the EU," he revealed.
While these warm words will bring joy to those looking to invest in the country, it is also clear that the plans to reform the Cypriot economy should also be welcomed, as they will provide the opportunity for future security in the country and bring more investment with them.
Meanwhile, Cyprus has been working hard to ensure its citizens are fully prepared for accession to the EU and in particular the arrival of the euro. This week the Cypriot authorities are preparing to sign an agreement that will see them launching a new information programme for citizens regarding the euro.
Being just a year and a half away from adoption of the euro, the country is looking to ensure its citizens and businesses are well aware of the impact the change will have on the country. When the euro is brought into Cyprus in January 2008 it is anticipated that this will result in a marked increase in investment in the country, with European investors finding it much more advantageous to invest in the country.
The Central Bank Governor Christodoulos Christodoulou has backed Cyprus to make the most of the advantages that entry into the European Union will have and highlighted the importance of the country's "multiple and significant" commercial, economic and social ties with other countries including the UK. | 
