Cyprus Austerity Measures

Government Spokesman Stephanos Stephanou reiterated Friday that the first package of austerity measures already tabled to the House of Representatives, a second package would follow.

In statements to the Press following a meeting of the Council of Ministers, which took place Friday morning, Stephanou said that the Minister of Finance is making efforts through a dialogue with political parties and social partners to have this second package ready and completed the soonest possible.

He also said that the Minister of Finance had made a public announcement about the preparation of a second package of measures, noting that “the second package of measures has been agreed between the President and the parties at the meeting on the economy”.
The results of the efforts and the dialogue will determine when the second package will be ready, Stephanou concluded.

Meanwhile, Finance Minister Kikis Kazamias said it would be difficult to submit the second package of measures before the House of Representatives by next Thursday, noting at the same time that he will try to respond to the request of the political parties.
“I will try to respond to the request submitted, I do not know if I will succeed or not, although I consider it very difficult, but by August 25 I have to convince for our real intentions,“ Finance Minister said.