Cyprus MPs fail to pass privatisation Bill in threat to bailout
Published on Feb 28, 2014 3:29 AM
NICOSIA (AFP) - The Cypriot parliament failed Thursday to adopt a controversial Bill to sell off state utilities mandated by a bailout from international lenders, potentially endangering the next tranche of a 10-billion-euro (S$17.3 billion) loan.
As hundreds of protesters gathered outside parliament, the vote was split evenly, with 25 in favour and 25 against, and five abstentions. The Bill required a simply majority to pass.
Opposition parties opposed the Bill and ruling right-wing Disy party had hoped its former coalition partner, centre-right Diko, would join it in backing the measure.
Together they would have had a slim majority.
To continue reading, log in if you are a subscriber
If you are not a subscriber, you can get instant, unlimited access here