Cyprus Pension Reform Talks Progress, Unions Remain Concerned

Cyprus Labour Minister Marinos Mousiouttas expressed optimism over ongoing pension reform talks, but trade unions reiterated their concerns. The minister said the sides are in a better position regarding potential changes to the reform. The labour advisory board will reconvene on Monday and Thursday to continue discussions. Unions have set 'red lines' for the reform, including no increase in social insurance contributions and no change in the retirement age unless linked to life expectancy. The state will stop borrowing from the Social Insurance Fund and repay its debt in instalments as part of the overhaul.