Caution in view of possible adversities

Following the Cabinet meeting yesterday, Finance Minister Takis Klerides reported to the press that in view of the recent events in the US and possible economic repercussions worldwide, such measures must be taken which will create a prudent and restrained climate. Mr. Klerides has been authorised to meet with employers' organisations and unions for an evaluation of the effects so far on the Cyprus economy and to seek their assistance, as an all round effort is necessary to face possible adversities in days to come.

The government does not intend to halt scheduled development projects or suspend agreed workers' benefits, but it will urge all concerned to implement a policy of restraint.