Finance Minister calls for adaptable social model for Cyprus

Cypriot Finance Minister Michalis Sarris pointed out the need to adopt an economic and social model in Cyprus that will take full advantage of globalisation and into account the increasing competition from countries such as China, India and the US.

Sarris was speaking during a seminar entitled “Economic Development and Social Cohesion – The Nordic Experience”, organised in Nicosia by the Planning Bureau and the Embassies of Denmark, Finland and Sweden.

Structural changes and social cohesion, he said, are being discussed throughout Europe and in Cyprus.

“We hope to reach practical conclusions that are applicable to the Cyprus case”, he noted.

Finnish Permanent Secretary of the Ministry of Trade and Industry Erkki Virtanen said he was in Cyprus to talk about the Finnish experience.

Permanent Secretary of the Planning Bureau Andreas Moleskis expressed his gratitude to Ambassadors Svend Waever of Denmark, Risto Pipponen of Finland and Ingemar Lindahl of Sweden for their cooperation in organising the seminar.

Moleskis said that the Nordic Model is presently gaining a reputation as a panacea for new growth in the struggling economies of Europe.