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Kikis Kazamias

Kazamias Says EU Bailout Can Be Avoided With New Package

austerity measures cyprusIn the wake of a broad party consenus on new austerity measures, Finance Minister Kikis Kazamias said he was optimistic that Cyprus' entry into the European Financial Stability Fund (EFSF) can be avoided.

Kazamias Proposes Two-Year State Wage Freeze

austerity measures kazamiasFinance Minister Kikis Kazamias today bit the bullet and has proposed a two-year freeze on wages in the public sector to help reach the target of lowering the deficit to below 3 percent in 2012.

No More Time Left on Austerity Measures - Neophytou

cyprus economyOpposition deputy leader Averoff Neophytou has sounded another alarm bell over the slow pace of austerity measures needed to cut the deficit and reduce state spending.

2012 Budget 'Unrealistic' - DISY

cyprus 2012 budgetThe 2012 Budget submitted to Parliament by Finance Minister Kikis Kazamias is unrealistic, says opposition party DISY deputy head Averoff Neophytou.

The budget projects a rise in income for the state of 11.1 percent over 2011, mostly from a rise in taxes on individuals, companies and property.

Christofias Blames Capitalist System for Economic Crisis

cyprus economic crisisPresident Demetris Christofias has blamed the 'global capitalist system' for problems in Cyprus' economy, saying that his government did not create the crisis.

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