Brussels, 08/11/2012 (Agence Europe) - In his meeting with Commissioner Dacian Ciolos on Tuesday 7 November, president of the Committee for the Regions (CoR) Ramón Luis Valcárcel Siso expressed disapproval of the Cypriot compromise on the 2014-2020 multiannual financial framework, which includes budget reductions for Common Agricultural Policy (CAP). Valcárcel Siso was particularly concerned because, “there are parts of Europe where if farmers stopped receiving subsidies, income would fall by 30% and would be unsustainable and it would be unviable to continue farming”. Valcárcel Siso said that the CAP budget cannot be reduced because it, “assures the sustainable management of natural resources, food security, presence of agriculture in all European territories and competitiveness of the European market”, a point of view that the European Commissioner cannot but share. The president of the CoR also called on the Commission to stabilise agricultural product costs and manage price volatility and said that more regulation was needed to ensure the long-term sustainability of the market. (MD/transl.fl)