Cyprus parliament turns down privatization bill

Published February 27, 2014 9:22pm ET



NICOSIA, Cyprus (AP) — Cyprus’ lawmakers on Thursday effectively forced the government to revise the terms of legislation that would pave the way for the privatization of state-owned companies, a condition of the debt-laden country’s rescue deal with international lenders.

The vote throws into doubt whether Cyprus will receive the next batch of bailout money that the government said is necessary to stave off bankruptcy in the next couple of months.

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