Cyprus supports increased spending for defence in the EU, Finance Minister Makis Keravnos in a doorstep statement upon his arrival to Tuesday’s meeting of the Economic and Financial Affairs Council (ECOFIN) in Brussels. He stressed that spending should give priority to European industries and to “countries that are considered friendly” and certainly not to countries “that occupy European territory”.

“At this economic and political juncture, it is of paramount importance that the EU moves forward with its strategic autonomy, strengthens its defence capabilities, so that its economy continues to have the necessary resilience,” Keravnos noted.

“Cyprus supports increased defence spending in the EU, in order for (the EU) to gain strategic autonomy,” he added.

“Of course, this arms spending should first and foremost be directed to European industries, and certainly, partnerships should be with countries that are considered friendly” he continued, pointing out that “defence spending cannot be channelled to countries that occupy European territory.”

Before the meeting, Keravnos represented Cyprus, as one of two countries who will take over the Presidency of the Council of the EU in the next 12 months, at the annual economic and financial dialogue with regional partners.

The Council was also represented by the current (Poland) and the next (Denmark) Presidencies which precede Cyprus.

The meeting is attended by the Western Balkans countries, Turkey and Moldova, with the addition of Ukraine as an observer, as well as by the European Commission and the European Central Bank.

Cyprus has been divided since 1974, when Turkey invaded and occupied its northern third. Repeated rounds of UN-led peace talks have so far failed to yield results due to Turkish intransigence. The latest round of negotiations, in July 2017 at the Swiss resort of Crans-Montana ended inconclusively.