Guarded optimism for Cyprus cable link

Athens is cautiously confident about reaching a final agreement on the Crete-Cyprus electricity interconnection following the Cypriot government's commitment to invest €125 million over the next five years in the project.

Athens' optimism is tempered by the fact that in his statements on the decision by the cabinet, Cyprus Energy Minister George Papanastasiou made specific reference to only one of the four critical issues under negotiation to break the deadlock.

Against this backdrop, the meeting on Thursday in Athens between Cyprus President Nikos Christodoulides and Prime Minister Kyriakos Mitsotakis is seen as crucial.

Papanastasiou said that the cabinet approved the proposal he submitted for the Crete-Cyprus electricity interconnection, which contains an update to the existing regulatory framework that will be integrated into future decisions by the Cyprus...