Cypriot president: New Year marks beginning of regeneration

Cypriot President Nicos Anastasiades said on Tuesday in a televised New Year address to his countrymen that the year 2014 will mark the beginning of the country's "regeneration." Calling 2013 a challenging year, he said the people have been called upon to pay for the mistakes of the past. Cyprus has been suffering severe economic crisis. In March this year, the Mediterranean country reached a 10-billion-euro (13.75-billion-U.S. dollars) bailout agreement with the Eurogroup and the International Monetary Fund. In order to implement the agreement, the government has taken a series of austerity measures. Anastasiades praised the people for demonstrating the courage and determination to change "what needs to be changed" in order to ensure Cyprus stands on its feet again. "Together, we have already set the foundations for the future, by preventing the bankruptcy of the country," he said. The president expressed certainty that "we all want, can and will achieve our goals and realise our visions, as long as we stand together." Closing his message, the president said the year 2014 will not be easy but "we will create the conditions for a better tomorrow."