Cyprus News Agency: News in English, 11-08-27

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From: The Cyprus News Agency at <http://www.cyna.org.cy>

CONTENTS

[01] GOVERNMENT AUSTERITY MEASURES

[02] HOUSE PRESIDENT AUSTERITY MEASURES

[03] HOUSE INQUIRY COMMITTEE MARI

[01] GOVERNMENT AUSTERITY MEASURES

In a written statement, Stephanou notes that the government also expresses satisfaction for the good sense and consensus that prevailed, despite the many discussions and the debates that were preceded.

The government always underlines the great need for social dialogue in formulating the package of austerity measures. The social dialogue is a factor of stability and indicates responsibility. Throughout the years it has proved to be a factor of social stability and peace, as well as a factor of growth and progress, Stephanou points out.

At the same time, Stephanou states that the government is determined to proceed with a second package of austerity measures aiming at fiscal consolidation. The House of Representatives, political parties, trade unions and the public opinion have already been informed by the Finance Minister on the outline of the second package, he says.

He assures that the government will follow the same procedure of dialogue and consultation in formulating the second package, adding the dialogue will continue with the political parties and with the social partners, with an aim to find a consensus. We would like to see the necessary response and all parties involved to act with prudence and with creative spirit, enabling us soon to present a second package before the House of Representatives. This way, the messages that will be sent to the international markets will be strong and persuasive, he concluded.

The House of Representatives of the Republic of Cyprus approved Friday night the first of two packages of austerity measures aiming at fiscal consolidation.

Specifically, the House approved six bills and one proposal which included a two-year (instead of three year) sliding scale contribution for civil servants and employees in the broader public sector earning over 1.500 euros. A permanent contribution from the pension funds of public sector and broader public sector employees was set to 3 per cent from 2.5 of the gross income after a proposal by opposition parties the Democratic Rally, the Democratic Party and the European Party.

The package of austerity measures, aims to save the government 750 million euros, and comes after a week of intense negotiations with the social partners and political parties.

The House will reconvene on September 15.

[02] HOUSE PRESIDENT AUSTERITY MEASURES

Unfortunately, Omirou continued, there has been a lot of procrastination and lack of boldness in adopting measures, something which led to the deterioration of the impact of the financial crisis.

The measures adopted are obviously not enough, Omirou added, saying that further economic consolidation is necessary, along with tax-imposing measures.

He said that it is important to continue with the restructuring of the economy, to tame financial indicators and get development back on track

[03] HOUSE INQUIRY COMMITTEE MARI

House President Yiannakis Omirou, said during the plenary session that the House Committee of Selection decided on July 21 on the committees composition, adding that its members will be charged with following the investigation procedure on the allocation of responsibilities concerning the base blast.

The composition and mandate of the Committee were adopted without any objections.

Delineating the committees mandate, Omirou said that it will operate within the framework of the constitutional role of the House of Representatives, to conduct parliamentary scrutiny.

The committee will convene regularly during the investigation process and its members will be briefed by the competent authorities, including the Attorney-General of the Republic, on developments and on the pace of investigations.

Moreover, the committees work will reflect parliamentary consensus, on proceeding with an independent and objective inquiry of the July 11 incident, and on allocating responsibilities by referring potential offenders to the court.

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