Christos Galanos, Partner at Michael Kyprianou & Co LLC, recently contributed his opinion and recommendations in a special Insider edition published by Phileleftheros on the occasion of the recent presidential elections when Nikos Christodoulides became the new elected president of the Republic of Cyprus. The special publication focuses on the major challenges the new government will have to face and navigate in various areas of economic activity.
In his article, Mr. Galanos highlights the fact that the new president takes office amid highly uncertain conditions and an ambiguous economic climate. The pandemic, the ongoing war in Ukraine and inflation are three well-known exogenous factors that threaten the economic stability not only of Cyprus but of the world economy in general. Successfully tackling problems requires resilient and robust institutions that can rise to challenges and enforce fair solutions in a timely manner.
Mr. Galanos points out that the decisive role that the institutions of Justice have to play in dealing with the crisis must be understood from the outset, and proposes a focus on fast and effective dispute resolution mechanisms that will contribute to the creation of an investment climate of security and stability, and effective anti-corruption institutions that will prevent abuse, ensure the smooth and fair functioning of the state and strengthen Cyprus’ credibility towards potential investors.
The entire opinion article is available in Greek on the website of Philenews here.