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« Back to news 08.03.2013 - 17:23

Cyprus does not intend to accept new terms of the "troika"

These days there are representatives in Cyprus "troika" of potential creditors of the country, which discuss the possibility of further restructuring of the budget and financial sector.

However, the Government of Cyprus said a firm no to three, voiced by the "troika" proposal: "haircut" of bank deposits, raising the corporate tax and a tax on financial transactions.

As the portal business news StockWatch, Cyprus President Nikos Anastasiadis after a meeting with representatives of the "troika" March 7 categorically denied the possibility of raising the corporate tax. Finance Minister Michalis Sarris confirmed that the meeting discussed about it really was.

In the restructuring of bank deposits, Sarris said that "the" haircut ", or any other threat to the deposits are not even discussed." He also said he would not allow the inclusion in terms of the provision of financial assistance from the EU point of imposing a tax on financial transactions. According to Sarris, reduce costs and increase revenue through the development of the gas industry will be much more effective measure than the introduction of the said tax.

The minister does not agree to cuts in salaries and pensions of civil servants beyond what was included in the preliminary version of the memorandum of understanding.

Source: Journal of Cyprus



Tags: EU, Politics, Economics, International Relations

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