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FinMin discusses Cyprus economy with European Court of Auditors’ member

Paris stresses the need to beef up Europe's defence industry, while noting the pivotal importance of the ongoing European military aid to Ukraine for the EU Common Defence and Security Policy itself, in view of the second meeting of the European Political Community (EPC) that will take place on June 1st in Chisinau, Moldova.

During the meeting participating heads of state and government will have the opportunity to discuss issues related to security, energy and connectivity in Europe, in the shadow of the ongoing Russian aggression against Ukraine. Moreover, they will send a strong signal of support to Moldova that has for many months been experiencing an unprecedented economic and energy crisis and as a neighbouring country of Ukraine, has already endured the security-related and humanitarian consequences of the war.

The European Political Community, that was established at the initiative of French President, Emmanuel Macron, in 2022, is a platform for political coordination between European countries across the continent. Its aim is to promote political dialogue and cooperation on issues of common interest in order to strengthen the security, stability and prosperity of the European continent. Its first meeting took place in October 2022 in Prague.

A total of 47 heads of state and government have been invited to attend the meeting in Chisinau. Except from the leaders of the 27 EU member states the leaders of Albania, Andorra, Armenia, Azerbaijan, Bosnia and Herzegovina, Georgia, Iceland, Kosovo, Liechtenstein, Moldova, Monaco, Montenegro, North Macedonia, Norway, San Marino, Serbia, Switzerland, Turkey, Ukraine and the United Kingdom have been invited.

French diplomatic sources have stressed, in view of the EPC meeting, that will be attended by President Macron, the significance of having in this platform European countries which are not EU member states and noted that issues related to security, energy and connectivity will be discussed.

As regards security, they said that participants will address the issue of cyber crime and means to protect relevant critical infrastructure.

Moreover they underlined France's commitment in defending Europe's security and expressed the view that "we have not explored all the potentials" of cooperation with other states with a view to beef up the European defence industry, adding that France has been looking into this.

The sources noted the challenges for the whole architecture of the European strategic stability due to the Russian aggressive policy, and the need to take measures to address them, since a gradual and deep erosion of European strategic stability would make Europeans more insecure and more vulnerable.

Moreover, they stressed the fact that the EPC gives the opportunity for informal deliberations with no written conclusions as in the case of the European Council meetings, and for frank and open exchanges on security issues and political crises, as the war in Ukraine, adding that there is equality among the participating countries, with no unequal status and differences between the EU and the non EU countries.

The French diplomatic sources said that the EU aid to Ukraine up until now exceeds 67 billion euros, of which 14 billion were attributed for military aid purposes.

They also elaborated on the help that France has offered Ukraine, noting that since the end of February 2022, Paris has sent to Kiev equipment of crucial importance: antitank missiles, anti-air missiles, personal protective equipment and personal weapons.

Moreover, they said that France has been training Ukrainian soldiers, while there has been a significant contribution by France to the European aid for Ukraine.

More specifically, France is the second-largest contributor to the European Peace Facility (EPF), a European Union foreign policy financial instrument created in 2021 that has enabled military equipment to be delivered to Ukraine since the Russian invasion. The facility raised pound 3.6 billion with a further pound 2 billion added in December 2022. France has donated almost pound 1 billion as of 15 April 2023, equivalent to 18% of the aid to Ukraine via the EPF.

Moreover, a total of pound 1.2 billion has been allocated in export financing as part of France's participation in the reconstruction of Ukraine. Also civilian assistance from France to Ukraine amounts to pound 1.7 billion in commitments made and pound 1.3 billion paid out. As regards humanitarian assistance pound 259.4 million was raised for Ukraine in 2022 and 2023.

The same sources noted that France's defence is not weakened due to the that fact that military systems are transferred to Ukraine, recalling that Paris will increase its defence expenses.

President Macron has already announced that France will boost military spending by more than one-third in the coming years, as the budget for 2024-2030 will stand at some 400 billion euros, up from 295 billion euros in 2019-2025.

Replying to a question on the issue of Sweden's accession to NATO, the sources expressed hope that Sweden will be able to join NATO with no delay, noting that the Scandinavian country is a key partner and a strong EU member.

Meanwhile, French President, Emmanuel Macron, will pay a visit to Slovakia where he will participate in the Globsec Bratislava Forum on May 31. This is the first time that a President of France participates in a meeting of this Forum that has established itself as the most distinguished platform throughout the Central and Eastern European region, something which sends out the message for Paris' interest in this region.

The French diplomatic sources noted that Macron will have the opportunity to listen to academics in the region and exchange views with them, outline his vision for the region during his speech at the Forum, and have meetings with Slovak officials as well as officials of other countries of the region.

Source: Cyprus News Agency