The DISY government’s policies have led to growing income inequality
Written statements by Charis Polycarpou, AKEL C.C. member on the European Central Bank’s survey
AKEL C.C Press Office, 26th January 2017, Nicosia
The survey conducted by the European Central Bank on the financial situation and consumption habits of households illustrates that Cypriot households have lost a significant part of their assets during the period of the Memorandum’s implementation.
The most significant changes in our country were:
- The sharp decrease in the median household income by -34.2% which now classifies Cyprus among the countries with the lowest incomes.
- A decrease of -3.2% in primary home owners,
- The biggest decrease across the EU by -5.2% of financial assets, such as deposits, pension and life insurance schemes and others of Cypriot households.
The survey once again reaffirms that the neoliberal austerity policies pursued by the Government of DISY has led to growing income inequality, the redistribution of wealth and the concentration in increasingly fewer and fewer hands.
Policies for growth to the benefit of society as a whole and not one-sided policies serving the privileged few
AKEL replies to DISY on European Central Bank survey
Given that whenever DISY is forced to defend the austerity policies implemented by the DISY-Anastasiades Government it turns to the past, we are obliged to recall the following:
It is the President of the governing DISY party A. Neophytou himself who was handing out congratulations to everyone for providing support to the Cyprus Popular Bank.
It is DISY party through its statements and actions who supported and assisted the “best” – as it called them – bankers in Europe, at the same time as the banking sector in Cyprus was collapsing and dragged the economy and society as a whole with it.
The biggest loss for Cypriot household’s assets came from the haircut on bank deposits which Nicos Anastasiades agreed to, despite his pledges to the contrary that he was generously dishing out during the 2013 pre-election presidential campaign.
Cyprus has suffered a huge loss of production and fall in incomes over the last four years and it is classified among the countries with the highest unemployment rate and the biggest growth in income inequality.
As AKEL, we are seeking the adoption of policies for growth so that the current difficult economic conditions are really addressed; policies to the benefit of the society as a whole and not one-sided policies serving the privileged few as the DISY-Anastasiades government is doing.
