Since 1 of July, the Council Presidency of the EU will be carried out by Cyprus. The Cyprus Presidency, their first since joining the European Union in 2004, follows the Danish Presidency. The main objective of the Cyprus Presidency is to work 'Towards a Better Europe', one that is more relevant to its citizens and closer to its neighbours. Recently, Cyprus requested financial aid to the Eurogroup.

1 of July 2012 is the date which marks the start of the Cyprus Council Presidency of the EU following the Danish Presidency. During six months, Cyprus hopes to make Europe more efficient and sustainable, at the same time as fostering growth and job creation. To this end a key focus will be on implementing the new enhanced framework of economic governance and reinforcing budgetary surveillance so as to ensure fiscal stability. Recently, President of the Eurogroup confirmed the request for financial assistance from Cyprus.

On the other hand, Cyprus is prioritising further deepening of European integration, strengthening social cohesion and ensuring a better quality of life for European citizens. Although they proclaim austerity measures are important for restoring the confidence of the markets and stability, they also state that at the same time Europe needs measures that promote inclusive growth and job creation. Overall, the Presidency programme is built around the underlying principle of solidarity.

In addition, during its Presidency, Cyprus will be charged to lead the works to set the budget for the period 2014-2020, the Multiannual Financial Framework. At the same time, the Cyprus agenda has as priorities the energy policy, the Trans-European Networks on transport, telecommunications and energy, and the Connecting Europe Facility, as well as youth employment, health and children's well-being, the protection of personal data and food security.