On the annual Report of the European Stability Mechanism
Statement of Haris Polycarpou, Member of the Economic Research Bureau of the C.C. of AKEL
AKEL C.C. Press Office, 17th June 2016, Nicosia
On the annual Report of the European Stability Mechanism
The recommendations included in the annual Report of the European Stability Mechanism (ESM) for 2015 illustrate what AKEL had repeatedly been stating in the past.
That is to say that the deposit of the payment of the installments by the European Mechanism won’t simultaneously signal the end of the pressures which the international lenders will continue to exert on the Cyprus economy.
The Government must at the same time explain why it is still dogmatically continuing to promote its proposal for the privatization of the Semi-governmental organizations when even the ESM refers to the need to modernize and not sell out these organizations.
On the closing down of 15,000 companies in recent years
There are more than 5,000 cases for voluntary liquidation of companies that have been submitted to the Insolvency Service over the last three years and the total number of companies that have closed down is approaching 15,000.
This also demonstrates the Government’s failure to support small businesses. Despite the declarations that SME’s constitute the backbone of the Cyprus economy, the Government decisions to impose huge cuts in the State’s developmental budgets, but also the promotion of policies such as in the case of the liberalization of shopping hours have regretfully led us to the current situation.
