Wednesday Jul 23, 2014 Search
Weather | Athens
31o C
23o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Cyprus parliament rejects haircut bill

The Cypriot House of Representatives rejected overwhelmingly on Tuesday the bill that would have inflicted a haircut on bank accounts.

There were 36 No votes and not a single Yes vote, as the 19 deputies of ruling Democratic Rally (DISY) who were present abstained, while another one of them was absent.

Cyprus speaker Yiannakis Omirou urged MPs to say «no to blackmail» as angry crowds also called for a «No» vote outside Parliament and held up signs warning that other financially crippled European nations like Italy and Spain could be next in line.

"There can only be one answer: no to blackmail,» Omirou, of the socialist EDEK party told deputies who met in emergency session.

"Our demand must be that this deal must be renegotiated. If we pass this tax there will be no foreign investor who will keep their money here,» he warned.

"There is no doubt, this is the most crucial session of our parliament. There is unrest among the people and they deserve an answer,» EDEK MP George Varnavas told the assembly.

DISY had unanimously decided not to take part in the vote because «it will strengthen the bargaining position of the Republic of Cyprus,» party member Nicos Tornaritis told Sigma TV.

But DISY coalition partner Marios Karoyian of DIKO said the rescue package must be «rejected».

"This is blackmail and DIKO proposes the bill is rejected, but yes to an adjustment programme... We want a European rescue, not European destruction,» he told fellow MPs.

George Perdikes of the Green party told parliament: «There is now a creditocracy where countries lose their sovereignty for an illegal loan agreement that is supposedly good for them but kills growth."

European Party MP Demetris Syllouris charged that the bailout terms were designed to destroy the banking sector in Cyprus that had been flourishing for decades, and especially hit Russian investments.

"Our lenders came not to support us, they wanted to annihilate the pillar of our economy which is the service sector ... They (Germany) must find another way to resolve their differences with Russia,» he said.

Many Cypriots blame Germany for leading the crippling demands imposed in return for the bailout, in a bid to punish Russia, where investors have placed vast amounts of cash in the island's banks.

"Why are the foreigners to blame, we won't accept it, we would rather take the hit 100 percent on our wages and pensions rather than on those who supported us,» said Syllouris.

Thousands of protesters lined the streets leading to the parliament building in Nicosia, many of them waving Russian flags, an AFP reporter said.

They held up banners that read «Hands off Cyprus» and the crowds chanted: «It will not pass,» referring to the rescue package.

Many also carried signs written in Italian and in Spanish saying that both financially-crippled countries could be next in line to face a similar painful rescue deal.

«Today it's me. Tomorrow it's you,» the signs read.

[Kathimerini English Edition & AFP]

ekathimerini.com , Tuesday March 19, 2013 (20:21)  
Finance Minister, MPs to finalize overhaul of party funding laws
EU envoy sees ´clear progress´ on immigration, asylum
Coalition split over civil service evaluation scheme
Golden Dawn using legal tricks to delay trial
Hedge fund Dromeus turns Greek tragedy to triumph with 160 pct gain
Dromeus Capital Management SA is turning Greek tragedy into triumph. When Achilles Risvas, chief executive officer of the $240 million investment firm, and Jason Manolopoulos started a fund ...
Number of firms filing for bankruptcy in Greece drops
The number of companies that filed for bankruptcy in Greece last year declined by 5.5 percent from 2012, according to ICAP Group data released on Tuesday by the Federation of Business Inform...
Inside Business
TRACK & FIELD
Athens, the Marathon capital of the world for good
Paco Borao, the man who restored Athens as the Marathon capital of the world with the establishment at the Olympic Sports Center of the headquarters of the International Association of Marat...
TRACK & FIELD
Pole vault record on same day as three doping cases
Greek track and field had a mixed weekend, as on the same day as Katerina Stefanidi matched the national record in pole vault as well as the leading result in Europe so far this season, thre...
Inside Sports
COMMENTARY
Front-line threats
Ongoing developments in the country’s broader neighborhood are creating new challenges as well as threats in terms of the country’s interests. While the Middle East is turning into a big bla...
EDITORIAL
Testing behavior
No country is capable of functioning properly without having an elementary evaluation system in place to assess its public sector employees. In Greece, a country where the lowest common deno...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Hedge fund Dromeus turns Greek tragedy to triumph with 160 pct gain
2. Number of firms filing for bankruptcy in Greece drops
3. TAIPED finally finds suitors for Afandou properties
4. Traders say last weekend proved Sunday opening is pointless
5. Fight for ADMIE privatization ends
6. Strategy focuses on debt sustainability
more news
Today
This Week
1. Front-line threats
2. Testing behavior
3. Hedge fund Dromeus turns Greek tragedy to triumph with 160 pct gain
4. Unequal after death
5. Greek sovereign debt at 174.1 percent of GDP in first quarter
6. Chinese investment
Today
This Week
1. Ex-Credit Suisse banker taps lesson for Greek rebound
2. The cost of excellence
3. Greece seen in third bailout as bonds not enough, economists say
4. Climber dies in Mount Olympus fall
5. Summer storms cause problems in Thessaloniki, spread across the country
6. Greek banks able to tap investors after stress tests, HFSF Says
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.