(ANSAmed) - NICOSIA, DECEMBER 17 - With state funds drying
up, the Cyprus' government spokesman Stephanos Stephanou called
on semi-governmental organizations to lend the Government money
from their employee's pension fund to pay public sector's
salaries in December, as Famagusta Gazette reports today. The
search for much-needed cash comes after it was announced that a
bailout package for Cyprus will not be finalized before
mid-January next year. The state has to come up with
approximately 400 million euros this month to meet its payroll
obligations and expects most of this sum from profitable
semi-government organisations (SGOs) in the form of loans. ''In
these difficult times the state seeks a three-month loan that
will refund with interest,'' Stephanou told reporters. Asked
whether public servant's salaries for December might not be paid
if the trade unions of the SGOs won't consent in lending the
money, Stephanou said the SGO needed to show a sense of
responsibility towards the state. ''And the state needs that
money now to be able to meet its financial needs, especially in
December, where its obligations are very increased because of
the salaries, and other end of the year obligations'' he said.
The Ports Authority has already pledged 38 million euros to the state, with the offer of a further 12 million if needed. CyTA are still considering a loan request of 120 million euros from their pension fund, which will be discussed tomorrow. (ANSAmed).
The Ports Authority has already pledged 38 million euros to the state, with the offer of a further 12 million if needed. CyTA are still considering a loan request of 120 million euros from their pension fund, which will be discussed tomorrow. (ANSAmed).
