Sunday May 3, 2015 Search
Weather | Athens
14o C
09o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Cyprus telecoms, power, port workers strike over privatisation plans

Hundreds of Cypriot state utility and port workers walked off the job on Friday over the government's privatisation plans, in the first mass protest against the terms of an international bailout brokered almost a year ago.

Staff at Cyprus telecoms CyTA and the Cyprus Ports Authority called a 24-hour strike, and the electricity authority a 12-hour stoppage from 0700 local time (0500 GMT).

Electricity transmission operators said some rolling blackouts were likely.

Cyprus's cabinet approved on Thursday a roadmap to privatise all three corporations. Under the terms of the bailout brokered with the EU and the IMF, the island nation must raise up to 1.4 billion euros from privatisations by 2018.

"Cyprus cannot be forced into fire sales of its assets in times of recession,» said Andreas Panorkos, a representative of electricity workers.

The protest was rare in a country which has seen little industrial or social unrest in response to a bailout whose terms were tough even by eurozone standards.

In return for 10 billion euros in aid which pulled it back from the brink of bankruptcy, Cyprus had to shut a major loss-making bank, and eat into depositors' savings above 100,000 euros to salvage another.

Finance Minister Harris Georgiades said strike action risked undermining the good image Cyprus had with its lenders because of its commitment to face its economic problems head on.

The island has received plaudits for its economic adjustment, most recently on Tuesday, when a review found Cyprus had exceeded its targets.

Passage of the privatisation plan by parliament is necessary for Cyprus to receive the next tranche of aid worth 236 million. It was due to be discussed in parliament next week.

"We need to take this step not only to meet obligations with lenders, but also to attract investment,» Georgiades told the public broadcaster. Workers' rights would in no way be affected, he said.

[Reuters]

ekathimerini.com , Friday February 14, 2014 (14:17)  
Two killed, around 20 wounded in clash between inmates
Fugitive Xeros nabbed thanks to tip-off, paper trail suggests
If SYRIZA misses targets it must go, says Lafazanis
Athens hopes for breakthrough
ANALYSIS
Government too conscious of its image
Negotiations with Greece’s lenders may have picked up pace recently but an interim agreement does not seem feasible at this time. Therefore, the SYRIZA-led government will have to make some ...
Tenders add term for ‘other currency’
As uncertainty about Greece’s future in the eurozone grows, the first official documents making reference to “payments in euros or any national Greek currency at the time” have made an appea...
Inside Business
SOCCER
Six teams to fight to avoid the last relegation spot
Panthrakikos was the biggest winner of the penultimate round of Super League games on Sunday through its victory at Veria, on the day that Olympiakos partied for its fifth consecutive title....
BASKETBALL
Olympiakos defeats Panathinaikos, Ivanovic goes
Olympiakos secured the top spot in the Basket League’s regular season through a 77-66 away win at Panathinaikos, sinking the Greens into all kinds of problems, including the sacking of its c...
Inside Sports
COMMENTARY
Wrong from the start
If the prime minister had handled negotiations with Greece’s international creditors differently from the onset I would bet that he would have achieved an excellent deal both for himself and...
EDITORIAL
Mixed signals
A decision from Greek Prime Minister Alexis Tsipras is long overdue. Caught up in the internal contradictions and disagreements of his leftist SYRIZA party, Tsipras has been unable to make a...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Six teams to fight to avoid the last relegation spot
2. Olympiakos defeats Panathinaikos, Ivanovic goes
3. Two killed, around 20 wounded in clash between inmates
4. Government too conscious of its image
5. Tenders add term for ‘other currency’
6. Bankers call for a quick deal to get economy back on track
more news
Today
This Week
1. Athens hopes for breakthrough
2. If SYRIZA misses targets it must go, says Lafazanis
3. Wrong from the start
4. Fugitive Xeros nabbed thanks to tip-off, paper trail suggests
5. Mixed signals
6. Tenders add term for ‘other currency’
Today
This Week
1. The Good, the Bad and the Ugly
2. Greece’s day of reckoning inches closer as debt payments loom
3. Greek decision to exit euro would be disastrous for Greece
4. Greece’s decade-long relationship with Merkel
5. No need to widen the rift
6. Varoufakis attacked by anarchists while dining in Athens
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.