Cyprus privatization bill backed in second vote

Published March 4, 2014 9:12am ET



NICOSIA, Cyprus (AP) — At the second time of asking, lawmakers in Cyprus approved a bill to privatize a host of state-owned companies, a move that will enable the country to receive its next batch of rescue money.

The 30-26 vote in favor Tuesday overturns last week’s rejection of the legislation and was due to a small right of center party backing the bill following government concessions on job security. The parties of the left continued to balk at the policy, which they see as a sell-out.

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