Arab Today, arab today cypriot workers clash with police amid industrial action
Last Updated : GMT 01:51:53
Arab Today, arab today
Arab Today, arab today

Cypriot workers clash with police amid industrial action

Arab Today, arab today

Arab Today, arab today Cypriot workers clash with police amid industrial action

Nicosia - XINHUA

Hundreds of Cypriot electricity workers clashed with police on Monday in the first serious strike action protesting a public utility privatization plan stipulated by a bailout program introduced 11 months ago. Electricity Authority employees skirmished with police outside the parliament's building as its finance committee considered framework legislation outlining the procedure of privatizing seven out of a total of 44 state-owned organizations. They chanted slogans such as "down with privatization", "hands off Electricity Authority" and "no to the selling off of national wealth". They also banged on ground floor windows, forcing the committee's legislators to move their session to a second floor room. Demonstrators hurled fire crackers and bulbs at the police, who responded with tear gas after people jumped roadblocks and rushed to the latched entrances of the building. Privatization of public utilities, mainly telecommunications, electricity and port services, is the thorniest issue resulting from a 10 billion euros (13.75 billion U.S. dollars) bailout package Cyprus agreed with the Eurogroup and the International Monetary Fund (IMF) in March 2013. Monday's action by employees was the first serious opposition in Cyprus since it implemented the bailout terms. In return for assistance, Cyprus was forced to wind down its second largest lender in a banking shake up and to also use 47.5 percent of uninsured deposits over 100,000 euros (137,620 U.S. dollars) to recapitalize its main bank. Industrial action is expected to climax on Thursday, when a plenary session of parliament is scheduled to vote on the privatization legislation -- a condition for the release of 236 million euros of bailout assistance ahead of a Eurogroup meeting on March 10. The strike is expected to be joined by electricity production workers, Cyprus Telecommunications employees and port employees this week. Public utilities employees say selling of state property at a time of recession would amount to a sellout and fear that privatization will lead to higher rates for consumers. Cyprus has received the thumbs up in three reviews of its bailout adjustment program by the troika, representing the European Commission, the European Central Bank and the IMF. Troika said the Cypriot economy has performed much better than expected. Finance Minister Haris Georgiades said the strike action risked undermining the good image international lenders have of Cyprus. He warned that failure to enact the legislation would endanger the government's ability to finance its operations and would possibly undermine efforts to attract badly-needed foreign investment to push the economy out of stagnation. The privatization of public utilities was included in the bailout package with a view of raising 1.4 billion euros by 2018 to keep down the public debt at a manageable level. The public debt of Cyprus has just passed the 109 percent mark of its gross domestic product. (1 euro = 1.37 U.S. dollars)

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today cypriot workers clash with police amid industrial action Arab Today, arab today cypriot workers clash with police amid industrial action

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today cypriot workers clash with police amid industrial action Arab Today, arab today cypriot workers clash with police amid industrial action

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Barcelona through George Orwell’s eyes

GMT 13:44 2017 Friday ,20 October

Barcelona through George Orwell’s eyes
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Tillerson heads to Gulf, downbeat

GMT 09:23 2017 Friday ,20 October

Tillerson heads to Gulf, downbeat
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Actress Shery Adel happy for Egypt’s qualification

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 07:47 2017 Tuesday ,17 October

Hussein Fahmy happy for honoring in festival

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 06:43 2017 Wednesday ,18 October

Fake dentists ply brisk trade

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday