"North seeks ‘miracle’ to stave off public finance collapse
By Simon Bahceli
TURKEY’S refusal to bankroll the Turkish Cypriot authorities this month means it will take a “miracle” to pay public sector salaries, ‘finance minister’ Ahmet Uzun has warned.
Uzun’s comments came in the wake of industrial action sparked by the authorities’ attempts to implement further austerity measures aimed at capping public spending. Since January, all pay increases within the public sector have been frozen, along with a ban on overtime. Despite the freeze, however, public servants’ salaries are still linked to inflation and subject to a two-monthly review – a mechanism Uzun now wishes to see abolished."
More: Cyprus-mail.com
