Georgiades: Cyprus has a long way to go on the road to economic recovery

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Finance minister of Cyprus, Harris Georgiades held a speech at a union representing civil service and public sector workers for state-owned companies in Cyprus, and stated that Cyprus has a long way to go before overcoming the effects of the recession. He mentioned the recovery from the financial and banking crisis has been positive so far, however added that companies in the public sector are in need of a huge overhaul, bringing structures in line with modern practices; making reference to their outdated regulations. Companies such as CyTA and the Cyprus Stock Exchange were in attendance.