The Cyprus Employers and Industrialists Federation (OEB) and the Cyprus Chamber of Commerce and Industry (CCCI), on the occasion of statements made by the Minister of Labour and Social Insurance to the media regarding the cost of living adjustment (cola), wish to emphasize the following:
(a) The cost of living adjustment (cola) is paid exclusively to those who have agreed to receive it through individual or collective employment contracts.
(b) The conclusion of collective labour agreements is a right that concerns employees and employers who have the constitutionally guaranteed freedom to choose or not to choose the conclusion of such a contract.
(c) The embargo on declarations requested by the Minister of Labour from the partners concerns and binds all partners of the trilateral cooperation.
(d) It is inconceivable to continue a discussion based on automations to increase the operating costs of businesses in the logic of previous decades, at a time when cosmogonic changes are taking place in the way business is conducted in Cyprus and internationally.
We reserve the right to discuss the rest with our social partners at the dialogue table.
