Government is serving a minority of profiteers

Statement of Haris Polycarpou, Member of the Economic Research Department of the C.C. of AKEL

AKEL C.C. Press Office, 6th May 2014, Nicosia

Today’s statements by the Minister of Finance with respect to the issuing of bonds amounting to €100m show that once again the Government, in its attempt to justify erroneous decisions, is resorting to its constant refrain of blaming the previous government.
How did the need for issuing a debt arise, which again based on the Minister’s words is not the first but have been preceded by 75 other transactions, when the Government and the Troika assured us that the €7,5 billion program would cover all the needs for the fiscal deficits and the refinancing of public debt by 2016?

However, an equally important question arises. If there is such a possibility of alternative lending why did the government cut an additional €127 million from social benefits when the welfare state is collapsing, on the excuse that there are no alternative sources of funding?

No matter how much the Finance Minister and the Government are trying to justify their decisions, they cannot hide the truth, namely that the people’s interests are being sacrificed by the government and ruling forces to serve a small minority of profiteers.