Economy · Cyprus

Cyprus Economists' Association: New Cooperative Will Enhance Competition and Citizen Prosperity

3 sourcesFirst reported 8 days agoUpdated 8 days ago

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The President of the Cyprus Association of Economists, Argyris Alexandrou, stated that the restructuring of the cooperative sector could enhance competition in the financial market.
This development is expected to contribute positively to the economy and improve citizen welfare.
Alexandrou emphasized the initiative as beneficial and expressed support for the quick re-establishment of cooperatives.
The remarks were made during comments to the Cyprus News Agency (CNA) on July 14, 2026.
The initiative aims to provide better interest rates and financial services for citizens.

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The President of the Cyprus Association of Economists, Argyris Alexandrou, has expressed support for the re-establishment of the cooperative banking sector in Cyprus, known as the "New Cooperative." He highlighted that this initiative aims to enhance competition within the financial sector, which could lead to better interest rates for citizens and improvements in overall economic well-being.

Alexandrou noted that the efforts to reform and reinstate the cooperative banking model are timely and commendable, emphasizing that this development is likely to yield significant benefits for both the economy and the general populace. He asserted that the establishment of the New Cooperative represents a positive step towards fostering a more competitive financial environment, ultimately contributing to higher living standards for citizens.

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Cyprus Economists' Association: New Cooperative Will Enhance Competition and Citizen Prosperity

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