Travel to Cyprus

Lawyers inCyprus- Review -CyprusDeficit – Completed on 21st November 2012

It is thought very unlikely thatCypruswill reach the EU directive on the country’s deficit in the given timeframe.  This means further sanctions and more pressure on the public to cover the sanctions we are sure about that!

The targeted percentage to reach by 2012 is below 3% however thoughts are we will be lucky to see below 5% which could means instant fines toCyprus.

Austerity measures proposed have been repeatedly discussed and rejected and the government have yet to agree on such austerity measures that will help the deficit.  Very little has been done to cut expenditure especially when it comes to the state payroll its self.  And who will this fall on the public!

The government are now on a tightrope to secure tough austerity measures to make sure the deadline and targeted percentage are met.

Its is all fine and dandy the EU forcing states to make sure this happens but by enforcing more sanctions as we have said before only bears more pressure on us the tax payer.  Can the EU not add a clause with the sanction that the public must not pay for the governments mistakes and the government must carry the burden alone…yes this is a dream of course!

It is thought that 2013 will be the year to see positive growth whereas 2012 will remain stagnant and the key to keeping 2012 turn into a negative year will be the hope of another good year for tourism.  The rise in VAT to 17% if passed is expected to see the country’s deficit drop 1% which is a big figure so doubt this will be rejected.

Well all we can say is 2012 will be a hard year for the Cyprus public if such harsh austerity measures are needed to avoid an EU bailout but will it be such a hard year for government staff members lets wait and see?

PUBLISHED BY A&G KOUZALI LAW OFFICE ON 21ST NOVEMBER 2011.

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