Christodoulides on ATA: There are Other Options

The President of Cyprus, Nikos Christodoulides, stated that there are second and third options for the executive branch regarding the Automatic Cost of Living Adjustment (ATA), following the rejection of the draft agreement by employer organizations.

Mr. Christodoulides did not reveal what these options are, but noted that the text presented to the employer organizations was the same as that presented to the trade unions.

Answering questions from journalists, he stated that the government's fiscal policy leads to a strong economy with a high growth rate in the Eurozone, benefiting all Cypriots, including businesses.

President Christodoulides emphasized that the Government has taken actions to strengthen entrepreneurship, such as reducing the defense tax from 17% to 5%.

Regarding the allegations of an "invisible hand" that led to the rejection of the agreement, the President stated he was unaware.

He reiterated that there are other options to ensure that the country's growth benefits the middle class and low-wage earners.

When asked about a possible bill, President Christodoulides avoided revealing alternative options.

Finally, he mentioned that the Government dares to address difficult issues and bring solutions, and also referred to his emergency meeting with carriers.