Friday September 19, 2014 Search
Weather | Athens
27o C
19o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Cyprus faces fresh bailout uncertainty after privatization vote

Cyprus faced fresh uncertainty on Friday over the future of its bailout program after lawmakers rejected privatization plans, casting doubt on a new tranche of financial aid due in March.

Parliament voted down a roadmap for privatizations - a condition of the country's international bailout - in a cliffhanger vote late on Thursday.

The 'No' vote raises the risk the island will be plunged back into fiscal turmoil just a year after the 10 billion euro lifeline from the European Union and IMF pulled it back from the brink of default.

The government called an emergency cabinet meeting for Friday morning. Above all we want to avert any adverse developments and maintain economic recovery, said Christos Stylianides, the government spokesman.

Authorities were likely to call a new session of parliament and present modified privatization proposals. The Cypriot finance minister has previously warned that the roadmap must be approved by March 5 for Cyprus to receive new aid worth 236 million euros.

Plans to establish a framework for the sale of ports, telecoms and electricity utilities have met stiff opposition from labor unions, with hundreds protesting outside parliament on Thursday evening.

The 56-member chamber's rejection of the plan hinged on the ruling right-wing party's refusal to endorse proposed modifications related to workers' legacy rights, claiming lenders would not accept it.

The centrist Democratic Party - which until Thursday was part of the government - said its support was conditional on proposals made by the party being adopted.

"I hope more mature thoughts prevail, said Nicolas Papadopoulos, the Democratic Party chairman. A precondition for us to move forward is that our amendments are accepted."

[Reuters]

ekathimerini.com , Friday February 28, 2014 (10:16)  
OPAP, Intralot bid for Greek horse race betting licence
Hardouvelis signals Greece may skip IMF loans to exit aid curbs
NBG-owned Finansbank looks into possible secondary public offering
ECB eyes banks capital quality as target for supervisory power
Minister calls on Tsipras to clarify position on public sector checks
Administrative Reform Minister Kyriakos Mitsotakis called on SYRIZA leader Alexis Tsipras to publicly state his position on the governments efforts to review public sector contracts and roo...
SYRIZA demands ND reaction to new claims of Baltakos contact with Golden Dawn
SYRIZA has called on New Democracy to respond to a newspaper report that claimed the former cabinet secretary Panayiotis Baltakos advised Golden Dawn MPs on how they should vote. Leftist MP ...
Inside News
SOCCER
Triumph for PAOK, historic result for Asteras in Europa League
Greek teams produced a patchy record on the opening night of the Europa League group stage on Thursday, as PAOK thrashed Dynamo Minsk, Asteras Tripolis snatched a draw at Besiktas and Panath...
SOCCER
Financial crisis forces Greek second division postponement
Greece's second soccer division Football League announced on Wednesday the postponement of the start of the season due to financial difficulties being faced by most clubs. "The board of dire...
Inside Sports
COMMENTARY
High stakes after the Scottish vote
We will soon know whether the Scots voted for their countrys independence or whether they will remain citizens of the United Kingdom of Great Britain and Northern Ireland. What was alread...
EDITORIAL
Breathing room
Even Greeces biggest critics find it hard to deny that the debt-hit country has achieved an unprecedented fiscal turnaround within a very short period of time. Sure, progress in promoting t...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Minister calls on Tsipras to clarify position on public sector checks
2. SYRIZA demands ND reaction to new claims of Baltakos contact with Golden Dawn
3. Claims that high profile personalities escape punishment to be probed
4. OPAP, Intralot bid for Greek horse race betting licence
5. Hardouvelis signals Greece may skip IMF loans to exit aid curbs
6. NBG-owned Finansbank looks into possible secondary public offering
more news
Today
This Week
1. EIB signs deals with Greece for 815-mln investment in infrastructure projects
2. ECB eyes banks capital quality as target for supervisory power
3. Samaras heads to Azerbaijan for two-day visit
4. Dozens of arrests at march to mark anniversary of Fyssas murder
5. Syntagma metro station to close for Fyssas tribute concert
6. Homeless man falls to death from shelter in central Athens
Today
This Week
1. Greece on standby
2. Greece at bottom of social justice scale among EU28
3. Central Athens traffic restrictions back in force on Monday
4. Lost in the fog
5. Democracy under Pressure | Live Streaming
6. SYRIZA spokesman suggests gov't sought to stop NERIT airing Tsipras speech live
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.