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Austerity Has Made Europe Worse, Says Cyprus President Demetris Christofias

Cyprus President Demetris Christofias has hit out against the harsh austerity measures being meted out to struggling eurozone members as the Mediterranean island faces a bleak new year.


The communist head of state, who tried repeatedly to avoid the inevitable punishing terms of an EU bailout by seeking credit from Russia, said that the policies imposed by the bloc’s richer members had been counter-productive, AFP reported.

“It must be admitted that policies implemented on a pan-European level have not succeeded in providing a solution to the economic problems created by the crisis,” Christofias said in a televised new year’s message.

“On the contrary, they have recycled and worsened economic and social injustice,” he added.

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