1st Economic Luncheon: World Economic Crisis & the Scandinavian Model
The Cyprus Nordic Countries Business Association, operating under the auspices of the Cyprus Chamber of Commerce & industry, recently organized an Economic Luncheon Event at the Hilton Hotel with keynote speaker Mr. Michael Sarris, Economist and Former Minister of Finance. Mr. Sarris’ speach focused on the current turbulent economic conditions afflicting the world economy with special mentions of the Scandinavian crisis management models of the 1990’s. During the Q&A portion of the event, Mr. Sarris stated that Cyprus needs to cut the public deficit and increase the productivity of the public sector stating that the government needs to undertake all possible means to inspire trust in foreign investors. He also stated that civil service salaries need to be frozen for at least 3 years.