Failure to approve the privatisation bill will be dangerous

Failure to approve the privatisation bill will be dangerous

 

Review Hari Stefanatos

The finance minister of the Republic of Cyprus, Harris Georgiades, issued a warning on Monday saying that the only available option for financing the country is the Troika and a failure to approve the privatisation bill for semi-governmental organisations or even the adoption of a significantly amended one will result in a possible halt of the financing.

He said “we all understand that the financing of the state, of our economy, by the Troika is the only one on offer at the moment”, to add that “the non approval of the bill or even the adoption of a bill radically different from the one discussed with the Troika will jeopardise and possible terminate the financing of the Republic of Cyprus, and in that event there will be no plan Bs, but of course there are emergency reaction plans against the unbearably, dramatically difficult situation that will arise. Of course, I have no indication that things are leading there”.

Georgiades  made a reference to the employees of the Electricity Authority of Cyprus (EAC), who demonstrated  outside the House of Representatives saying again that  “the final decisions will be taken in four years from now”, during which time specialised studies and the possibility of the organisation’s restructuring will be discussed.

In statements at the Ministry of Finance, Georgiades said that Monday`s incidents at the House of Representatives, at the time the bill was discussed, invalidated democracy making it clear that threats to cut off electricity to homes and businesses were unacceptable and would lead the economy into trouble.

(Source CNA)