Brussels, 05/11/2012 (Agence Europe) - Meeting in Cyprus on Monday 5 November, the “Islands” Commission of the Conference of Peripheral Maritime Regions of Europe (CPMR) voiced its opposition to reductions in cohesion policy credit and argued in favour of changes to the allocation criteria for the structural funds. The compromise of the Cypriot Presidency proposes to reduce (compared to the initial proposal) the cohesion policy budget by nearly €12.75 billion, compared to €7 billion for the common agriculture policy (CAP). According to the CMPR, the division key for the allocation of the structural fund (based mainly on the GDP or the unemployment rate) does not take sufficient account of the situation of member states with a major part of their territory (or population) located in areas with so-called “geographic or demographic handicaps” and which face very high cohesion costs. The islands are calling for the geographic and demographic realities to become one of the main criteria for the allocation of funds. (LC/transl.fl)