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Only Cypriot President and Speaker allowed to fly business class
Only Cyprus' President Nicos Anastasiades and parliamentary speaker Yiannakis Omirou will be allowed to fly business class under austerity measures the government agreed to with international lenders in exchange for a €10bn bailout.

Senior government officials will also lose the right to buy duty-free cars and all state officials and parliamentarians will have wages frozen until 2016, according to the Memorandum of Understanding (MoU), obtained by Reuters

The document also states that Cyprus should reach a primary surplus of 4pc of GDP in its budget from 2017 onwards to ensure public debt falls.

The MoU lists fiscal steps, as well as reforms of public administration, pensions, healthcare, labour market privatisation and services that the Mediterranean island agreed to undertake in exchange for eurozone financial aid.

According to the MoU, Cyprus will have a budget deficit before debt servicing costs of €395m or 2.4pc of GDP this year, a bigger gap than the 1.9pc of GDP in 2012.

Next year the primary deficit will grow to €678m, or 4.25pc of GDP, and then shrink to €344m, or 2.1pc of GDP, in 2015.

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