Our View: Is it the end of the line for voluntary exit schemes?

There is an unwritten law in Cyprus by which banks and semi-governmental organisations cannot make staff redundant. They can only offer a voluntary exit scheme by which it is up to an individual worker to decide whether he or she will take the ultra-generous pay-off and leave, while the employer has no real say in the matter. An application to the voluntary exit scheme, in theory, could be rejected by