The economy hangs in the balance as the 56-seat House of Representatives meets today at 10am (GMT+2) to vote on the Troika's bailout plan on the basis of an international contract.

The government has instructed the foreign ministry to respond strictly and rigorously to UN envoy Alexander Downer's meeting with the 'foreign minister' in north Cyprus.

As Greece's parliament passes a new law providing for the termination of 15,000 jobs in the country's civil service, Cyprus' new labour minister Zeta Emilianidou has pledged to create 8000 new jobs on the island amid rising unemployment.

In Greece and Cyprus, state jobs are considered sacrosanct, and are constitutionally protected - but in the greatest economic upheaval since the 1970's, those rights are being whittled away to make way for austerity.

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