Omirou: Rating agencies create more problems

Omirou noted that the international rating agencies have launched an attack against the EU and more specifically the eurozone, thus creating more economic problems.

But the House President stressed that despite the above measures need to be taken on a long-term basis for the consolidation of the public finances.

Referring to Cyprus, he said that the announcements of the rating agencies ''should not constitute an alibi for not taking more measures''.

He said that Cyprus should take long-term measures to consolidate its economy and solve the structural problems which exist during the last decades.

Omirou’s statements were made after a meeting he held with the new leadership of the Cyprus Chamber of Commerce and Industry (CCCI).

The House President asked criticism against the handlings of the government as regards the economy.

“The delay in taking measures has led us to more difficulties and problems, one of which is unemployment”, he pointed out.

Omirou expressed conviction that the CCCI would make efforts to avert the negative impact of the economic crisis on the job market, saying that the CCCI can contribute to the creation of new jobs and can make sure that employees maintain their jobs in the various sectors of the economy.

Newly elected President of the CCCI Phedias Pilides said that the state should start adopting measures to strengthen the economy.