Troika meets Cyprus trade unions and employers’ organizations

The Troika mission to Cyprus (European Commission, ECB and IMF) will meet here today, in separate meetings, trade unions representatives as well as the two main employers’organizations.

On Tuesday, the Troika met Finance Minister Vassos Shiarly and Central Bank Governor Panikos Demetriades and later on the Ministerial Committee, responsible for economic issues.

The Ministerial Committee comprises the Ministers of Finance, Labour and Social Insurance, Commerce, Industry and Tourism and the Deputy Minister to the President.

In statements following the second meeting, Government Spokesman Stefanos Stefanou said the Ministerial Committee had its first in depth discussion with the representatives of the Troika.

The Troika, he noted, “submitted its own assessment of the Cypriot economy, on the basis of the collected during its first visit to Cyprus”, and the government commented on the Troika evaluation.

The Troika was here in early July on a fact finding mission for a close scrutiny of the banking sector, which has been severely hit by Greek sovereign debt haircut and over-exposure to the Greek economy, as well as the refinancing requirements of the government.