Cyprus-Forum.com

by **apc2010** » Thu Feb 27, 2014 10:04 pm

BREAKING: MP's have rejected the privatisation plan that is necessary for the island to receive a new tranche of international aid.

In a cliffhanger vote, 25 lawmakers rejected the bill, 25 approved it and there were five abstentions.

Approval of the privatisations is mandatory under terms of a 10 billion euro bailout the island secured a year ago, and for the fourth tranche of aid in March.

by **Maximus** » Thu Feb 27, 2014 10:17 pm

what's the alternative? they will have to pass it.

by **repulsewarrior** » Thu Feb 27, 2014 10:27 pm

... they will amend the bill, or a new one must be written.

...more info:

This Bill is so important to the government because it means that the next bailout of €235m from the EU will be payable. It needs to be approved by 5 March, which is five days ahead of when the Eurogroup meets to discuss the next aid package to Cyprus. - See more at: http://www.portstrategy.com/news101/wor ... nw5Za.dpuf

So far the government has declined to comment on the outcome and Cypriot
president Nikos Anastasiades called for an emergency meeting with finance
minister Harris Georgiades.

According to the parliamentary rules, a rejected bill cannot be brought
back to vote without changes.

During the two-day debate, hundreds of angry protesters surrounded the
parliament urging lawmakers to reject the plan. Wednesday, the demonstrators
managed to cut off electricity, keeping the lawmakers inside the building for
hours.

The approval of the privatization plan is one of the milestones set by
Cyprus's international lenders in order to continue releasing future loan
tranches out of the E10 billion in loan aid.

According to the plan, Cyprus must privatize three major public utility
corporations, and raise around E1.4 billion by 2018. Those earmarked for sale
include Cyprus Telecoms CyTA, the Electricity Authority and the Cyprus Ports
Authority.

--http://www.forextv.com/forex-news-story/cyprus-parliament-rejects-privatizatn-plan-proposed-by-lendersMNI Athens Bureau; email: [email protected]

by **GreekIslandGirl** » Fri Feb 28, 2014 12:46 am

Boring. This is a repetition of all that Greece went through. Making us think they are doing something, that they are deliberating hard.

Going through the motions. :roll:

- More bread for the bankers ...

Anyway, they can tell Lagarde et al., "Non, merci" and Greece can give Cyprus some of this month's surplus of theirs (I think this is why Cyprus has found the strength to cock a snook :wink:

). They have 3X more than Cyprus needs.

by **Paphitis** » Fri Feb 28, 2014 1:45 am

GreekIslandGirl wrote:Boring. This is a repetition of all that Greece went through. Making us think they are doing something, that they are deliberating hard.

Going through the motions.

- More bread for the bankers ...

Anyway, they can tell Lagarde et al., "Non, merci" and Greece can give Cyprus some of this month's surplus of theirs (I think this is why Cyprus has found the strength to cock a snook ). They have 3X more than Cyprus needs.

And you get bet your bottom Stirling that not one Euro cent will make its way to Cyprus.

And the surplus is only 1.5 Billion Euros. Cyprus needs about 10 Billion.

by **kurupetos** » Fri Feb 28, 2014 2:31 am

IMO it will be accepted within a week. It was funny watching Karoyian and his gang screw DISY though.

by **Oceanside50** » Fri Feb 28, 2014 3:39 am

Do these employees of the government get a pension when they retire? Is that what they are rioting about?

by **Paphitis** » Fri Feb 28, 2014 4:24 am

Oceanside50 wrote:Do these employees of the government get a pension when they retire? Is that what they are rioting about?

In my opinion, everyone seems to want to sponge off the RoC.

It's about time there are going to be changes like this, and this is a positive aspect of the Troika Razor Gangs.

There are going to be a lot of changes so everyone better get use to it.

by **GreekIslandGirl** » Fri Feb 28, 2014 10:05 am

apc2010 wrote:BREAKING: MP's have rejected the privatisation plan that is necessary for the island to receive a new tranche of international aid.

In a cliffhanger vote, 25 lawmakers rejected the bill, 25 approved it and there were five abstentions.

Approval of the privatisations is mandatory under terms of a 10 billion euro bailout the island secured a year ago, and for the fourth tranche of aid in March.

It's even less than I thought, for all this fuss.