Critical Meeting on Cost of Living Allowance Amid Strike Threats

A critical meeting regarding the future of the Cost of Living Allowance (COLA) is scheduled for 16:00 at the Ministry of Labour. The meeting will include the Minister of Labour, Yiannis Panayiotou, employer organizations, and trade unions.

The conference is considered crucial as the transitional agreement of 2023 has expired without a new regulation. Trade unions are warning of nationwide strike measures if no progress is made, with the final decision expected at Monday's pan-union assembly.

Trade unions are demanding the full reinstatement of COLA at 100% and its extension to the minimum wage, while employer organizations are proposing a more 'modern' mechanism with safeguards, warning of fiscal risks.

Social partners appear restrained ahead of the meeting. OEB and KEBE have called for all avenues of dialogue to be exhausted, while the unions speak of extreme positions on the part of employers.