Unpopular measures needed for Cyprus euro adoption

Cyprus Central Bank Governor Christodoulos Christodoulou said Tuesday the government must take "unpopular" measures to reign in public spending to achieve its target of adopting the euro in 2007.

"What's demanded is a drastic reduction of non-productive expenditure and a substantial increase in state income," Christodoulou told a press conference according to Reuters.

"We are talking about unfriendly measures which will be unpopular and carry a temporary political cost. This is unavoidable but

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