Brussels, 04/10/2012 (Agence Europe) - On Thursday 4 October, the European Commission denied information in Cypriot newspapers about the troika of lenders (the European Commission, the European Central Bank and the International Monetary Fund) being due back in Nicosia, Cyprus, to pick up again on negotiations on a financial bail-out. A Commission spokesperson said that despite reports in the newspapers that the troika would be back in Cyprus in ten days' time, there were no such plans for the time being.
On Wednesday evening, the Cypriot cabinet announced that the finishing touches had been put to the measures recommended by its future international lenders. Finalising the programme of measures is a precondition for financial aid and will determine the date when the troika returns to Nicosia. Troika representatives have not been back to the island since July, awaiting comments from the Cypriot government about the measures the troika itself had recommended.
On NET television, the Cypriot president, Demetris Christofias, said that he would refuse to sign any memorandum calling for the privatisation of semi-government companies, scrapping workers' annual bonus or ending inflation-linking for pay. Not concerned about the statements, the Commission simply pointed out that the Cypriot president “was not opposed to financial assistance” and talks were continuing. Cypriot newspapers report that the country hoped to get some €11 billion of aid from Europe, €6 billion of it by 2015. (EL/transl.fl)