Today: January 22 2019
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Cypriot authorities have finalized a draft law on privatization

Cypriot authorities have finalized a draft law on privatization

Tags: Cyprus, politics, power, privatization, Credit

Cyprus government "would not allow a default" and find a way that will allow the country to break the deadlock in Parliament's refusal to approve the bill on privatization. This was stated by Finance Minister Haris Georgiadis.

"We will do everything to maintain taken a few months ago a course on economic stabilization, - he said. - Privatization - is our clear commitment (to the" troika "of international creditors - the European Commission, the European Central Bank and International Monetary Fund). Everyone needs to understand that if we sink, all together. "

On Thursday, lawmakers did not support the government developed a draft law on privatization, to be approved by the Parliament is one of the main conditions for continued provision of credit assistance to Cyprus. March 10 expected Eurogroup meeting, which will decide whether to grant the next tranche 236 million euros. Lenders put a condition that the bill must be approved prior to March 5. According to their calculations, privatization should bring Cyprus 1,4 2018 billion euro a year.

However, officers of the three leading state-owned enterprises - Cyprus electric company, a telecommunications company and Cyprus Cyprus Port Authority - strongly opposed the bill, which they fear will deprive them of jobs and pension benefits. Monday in the capital held strikes and mass demonstrations of protest.

December 28 office urgently revised bill and introduced a number of amendments proposed by the parties. He will once again put to the vote in the plenary session of Parliament next Tuesday - the day before the expiration of the "troika".

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