CBBB wrote:apc2010 wrote:ANY amendment to the privatisations bill agreed with the ECB -EU and IMF would not be accepted by the troika of international lenders, reports Sigma Live.
According to the channel, the Ministry of Finance has been in contact with representatives of the troika in order to clarify whether changes to the bill would be acceptable.
The bill is being amended in Nicosia to accommodate concerns over workers legacy rights, after lawmakers turned down the existing bill last night.
Sigma reports that the troika insist any amendment cannot be accepted as it will be seen as violating the provisions of the Memorandum of Understanding.
An unnamed troika official was quoted by Sigma as saying: “My understanding is that this provision goes beyond what is generally acceptable to the SOEs today. I would consider this a material change to our agreement on the content of the privatisations draft bill. Should this amendment be included in the formally adopted bill, I’m afraid the relevant MoU requirement (paragraph 3.6) will not be assessed as fulfilled.”
The government will re-submit the privatisation legislation to parliament, Government spokesman Christos Stylianides confirmed Friday
From what I have read, and seen on TV, it was only one of the amendments that was not acceptable to the Troika, that was the one that made employees of all the SGO's on the Government payroll for life with their existing salary scales and pensions if they should lose their jobs as a result of privatisation. That would have rather defeated the whole object of privatisation.
Are they on drugs,,,,,
