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Cyprus News Agency: News in English, 13-08-12
CONTENTS
[01] Minister: Cyprus Airways restructuring plan progresses
[02] UK and Cyprus record wage losses, according to study
[01] Minister: Cyprus Airways restructuring plan progresses
Cyprus Airways flights are nearing full capacity during high season,
Minister of Communications and Works Tasos Mitsopoulos said on Monday,
noting in parallel that the company's restructuring plan is progressing
"with consistency".
Responding to a question, Mitsopoulos said that he was briefed last week
by the company's Board Chairman, as well as by the Executive Director,
and noted that "the restructuring plan is progressing, according to our
briefing, with consistency and in a reliable manner".
He said moreover that it was important to make a good impression on the
European Commission, which has the final say on the plan.
[02] UK and Cyprus record wage losses, according to study
Wages in Great Britain are subject to one of the greatest reductions in
the EU, during the recent financial crisis, according to data gathered
by the library of the House of Commons, after a relevant request by the
Labour Party.
From mid-2010 until now, the hourly rate in the UK declined by 5.5%,
taking inflation into account. The reduction is only greater in Greece
(11.3%), in Portugal and the Netherlands.
In Cyprus, the hourly rate has declined by 3%, according to the same data,
while the decrease in Spain is 3.3%. In contrast, rates went up by 2.7%
in Germany and 0.4% in France, during the same three-year period.
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