Cyprus Mail newspaper

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Cyprus Mail www.cyprus-mail.com

Wednesday, May 1, 2013

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Bailout scrapes through House DISY leader says deal is a one-way street, Greens call it ‘biggest defeat in 8,000-year history’ By George Psyllides

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ARLIAMENT last night ratified the island’s EU bailout amid warnings that tougher times lie ahead for Cypriots, already suffering from the effects of a deep recession. With a thin majority of just two votes, lawmakers approved terms accompanying €10 billion in aid from the European Union and the International Monetary Fund (IMF). In a show of hands, 29 MPs – DISY, DIKO, and EVROKO – the three parties in the government approved the motion, with 27 – AKEL, EDEK, Greens and two others – voting against. Government officials had warned the island would fall into chaotic default, unable to pay salaries or pensions, as early as next month without emergency funding. “Unfortunately the (bailout) is a one-way street for us. It will avert disorderly default and gives, albeit with many hurdles, some prospect of getting us out of the storm,” said DISY chief Averof Neophytou. The bailout debate took place as a few hundred people demonstrated outside parliament against the memorandum, under the watchful eye of a strong police force in riot gear. One group brought along

a fake gallows, which they said was for lawmakers. They were mostly supporters of AKEL – who had applied for a bailout in the first place – and members of former foreign minister Giorgos Lillikas’ citizens’ alliance. Initially the protesters were in one group but it did not take long for disagreements to arise, prompting the Lillikas crowd to move to the other end of the street that passes outside parliament. The government welcomed the ratification of the bailout – already approved by other EU parliaments – as it called for unity. “It would have been an oxymoron for European parliaments to approve a €10 billion loan to Cyprus only for it to be rejected by the parliament of a country with empty coffers without having a realistic alternative plan” government spokesman Christos Stylianides said in a statement. The administration, Stylianides said, will now focus on implementing the bailout programme and “we want to have the entire political leadership – those who approved the deal and those who rejected it – on our side, because Cyprus salvation is above everything else.” AKEL reiterated its proposal for a coordinated

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As deputies met, people protested outside the House yesterday (Christos Theodorides)

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Dutch King Willem-Alexander succeeds Queen Beatrix By Gilbert Kreijger and Thomas Escritt WILLEM-Alexander became the first king of the Netherlands since 1890 yesterday, ascending a throne largely stripped of political power but still invested with enormous symbolic significance for the Dutch people. Blinking back tears, former Queen Beatrix stepped out onto the balcony of the Royal Palace and presented her son to crowds of orange-clad wellwishers who had gathered in Dam Square from early yesterday. “Some moments ago I abdicated from

the throne. I am happy and thankful to present to you your new king,” said Beatrix, 75, who retired after 33 years in the role, following in the tradition of her mother and grandmother. She now takes the title princess. An estimated 25,000 people massed in the square - many dressed in the colour of the House of Orange or wearing orange wigs, hats, feather boas and pretend crowns - cheered as the abdication and automatic succession were broadcast live. Wearing a sober purple dress, Beatrix signed the abdication document in front of the Dutch cabinet, Willem-

Alexander, 46, and his wife Maxima, a former investment banker from Argentina. The new queen wore a pale rose-coloured dress with a shimmery skirt and enormous bow on the left shoulder by Belgian designer Edouard Vermeulen of fashion house Natan. The investiture ceremonies have provided a welcome excuse to celebrate at a time when plummeting house prices, rising unemployment and slumping consumer confidence have pushed the country into recession.

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