Cyprus’ parliament rejects privatisation plan

The assistance programme to Cyprus has run into troubled waters after the country's parliament rejected, on 27 February, the privatisation plan agreed between Nicosia and the Troika (European Commission, ECB and IMF). In a cliffhanger vote, the legislators opposed the bill that would enable the privatisation of three major utilities, a condition set by the international lenders in exchange for a ?10 billion bailout. The programme for Cyprus is considered to be on track and Nicosia is expected to start…