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Government and political parties reach agreement on fiscal measures
2011-07-22 12:01:16

The government of the Republic of Cyprus and leaders of other political parties agreed to implement a package of austerity measures to prevent a further downgrade of the Cypriot economy while discussion on a second austerity package will be continued between the Ministry of Finance and the political parties.

Government Spokesman Stephanos Stephanou announced the decision following Friday’s meeting between President Christofias and leaders of other political parties without going into details on the measures.

Mr. Stephanou further noted that the measures agreed aim both at solving structural problems as well as ensuring fiscal consolidation.

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