Cyprus: OEV President proposes measures to tackle economic crisis - Financial Mirror

Cyprus: OEV President proposes measures to tackle economic crisis

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The Cyprus Employers and Industrialists Federation (OEV) has put forward a series of measures to help deal with the global economic crisis.

The Federation advocates a conservative policy on salaries and prices, which requires a commitment by the trade unions not to claim salary increases in the next couple of years and at the same time, a commitment by businesses not to raise the prices of products and services.

Speaking at the OEV 48th Annual General Assembly, in Nicosia Monday, OEV President Andreas Pittas said that in order to tackle the effects of the global financial crisis the Federation proposes, among other measures, using the reserves of the Redundancy Fund, those of the Human Resources Development Authority and a conservative policy on salaries, benefits and prices.

Analysing the measure to restrain prices and salaries, Pittas said that all the trade unions should undertake a commitment not to demand salary increases for their members.

Addressing the AGM, the Minister of Labour and Social Insurance Sotiroula Charalambous said there is a common commitment to get through the international financial crisis without undermining the Cyprus system of industrial relations, but with maintaining high employment rates.

Charalambous stressed that all the measures taken to tackle the crisis should be the outcome of social dialogue. Any such measures should be balanced and mainly supportive towards businesses, workers and the vulnerable groups of the population.

“Our high priority is to modernise the system of the tripartite cooperation (government-trade unions-employers unions) in such a way that the character and the principles upon which it has been established, are safeguarded”, she added.