Cyprus faces fresh bailout uncertainty after privatization vote
Source: Reuters
(Reuters) - Cyprus's government will re-submit a privatization law to parliament, a spokesman said on Friday, a day after lawmakers rejected a sell-off plan, putting the island's bailout program at risk.
Government spokesman Christos Stylianides said legislation amended to accommodate concerns over workers' legacy rights, would be submitted to the House of Representatives on Friday. It was not immediately clear when parliament would reconvene to debate the bill.
"We hope the soonest possible," Stylianides said.
Parliament voted down a roadmap for privatizations - a condition of the country's international bailout - in a cliffhanger vote late on Thursday. Approval of the measure is contingent on Cyprus getting its next tranche of aid in March.
Read more: http://www.reuters.com/article/2014/02/28/us-cyprus-bailout-idUSBREA1R0HO20140228