The European Union’s General Affairs and External Relations Council, which will convene tomorrow in Brussels, is expected to approve the COREPER’s proposal on Financial Aid Regulation without debating it.

The Council will focus on preparations for the March European Council and on follow-up work on the EU Budgetary framework for 2007-2013.

The European Union’s Committee of Permanent Representatives or COREPER agreed earlier to separate the Financial Assistance and Direct Trade Regulations and approved -at an extraordinary meeting of COREPER on Friday night- the release of the 139-million Euros worth of aid to North Cyprus as part of the Financial Assistance Regulation.

The approval of the aid had been stalled for two years due to disagreement on whether to separate the two regulations.

The draft proposal will now need to be approved by the European Council.

Commenting on the COREPER’s decision, the Presidential Palace said that the Regulation was approved without the consent of the Turkish Cypriot Side with the aim of avoiding a Greek Cypriot veto.

Complaining that the Regulation is far from meeting the Turkish Cypriots’ expectations, it called on the Committee to reconsider its decision.

The statement also noted that the decision taken by COREPER may be harmful to a comprehensive solution to the Cyprus problem and urged COREPER to call the Greek Cypriots to the negotiating table to discuss the United Nations peace plan.