Filenews 7 March 2021 - by Socrates Joachim
The first court decision on bank unfair terms, in the context of cases forwarded to the court by the Legal Service, following decisions of the Consumer Protection Agency, is a fact.
On the basis of the decision, a decree was issued recognising clauses as unfair. These are clauses relating to charges and opacity in respect of these charges and, on the basis of the court's decision, an immediate cessation and non-continuation of the use of the clauses in the bank's contracts is ordered.
The Legal Service should note that it has so far not received any information on the intention to appeal against the decision, a right which is granted for a certain period of time.
Financial Commissioner Pavlos Ioannou spoke, however, of the behaviour of banks which "may also be detrimental to the entire banking system". He cited examples where banks refuse to hand over account statements and certificates to their customers. "It all stems from the enormous and absolutely monopolistic power that banks have over each individual consumer," he said.
The housing of Kotsovoly has been locked down
In about 2 months the launch of the well-known Greek technology chain Kotsovolos is planned in Cyprus, with the premises where the first two stores in Nicosia and Limassol will open. In Limassol the chain will be housed in a two-storey building, of an area of 2,600 sq.m., in the area of Agios Athanasios and in Nicosia on Makarios Avenue and in particular in the former department store of the CTC Group called "Avenue", which was later renamed "Debenhams" and closed permanently in 2013. The company, however, continues the recruitment of staff for the staffing of its two stores, seeking to redeem the good reputation it built from its presence in many places throughout Greece.
"Hercules" project for red loans
In the announcement of the special project "Hercules", in order to help households facing financial difficulties in repaying their loan, the Housing Finance Agency (COS) proceeded, as part of its efforts to facilitate households with non-performing home loans.
The Plan covers home loans that meet the following criteria:
- The residence financed to be, for the last three years, the principal residence of the borrowers
- The loan was granted by 31 March 2013
- By 31 December 2020 the loan had a balance in excess of €50 thousand and had delays of more than 360 days.
The Agency states that the facility concerns the write-off of an amount corresponding to a percentage of the interest charged on the loan from the date of its grant until 31 December 2020. The write-off rate varies according to the balance of the loan at 31 December 2020 and the choice of borrowers between full repayment or sustainable restructuring of the loan.
When the City of Dreams opens
The City of Dreams Mediterranean, the first and only licensed multi-thematic resort in Cyprus and the largest in Europe and the wider Eastern Mediterranean region, is on its way to completion. Construction projects are progressing smoothly, with the multi-themed resort expected to open its doors in the summer of 2022. After its completion, the flagship project, located in Limassol, will be the largest and most luxurious multi-themed resort in Europe. It will feature a 16-storey 5-star hotel, with more than 500 luxurious rooms and suites, conference and exhibition spaces of about 10,000 sq.m., an outdoor amphitheatre, adventure park, dining areas and luxury shops.
Local Authority Reform
Interior Minister Nikos Nouris was mentioned on Wednesday after the Cabinet meeting at the Presidential Palace.
It should be remembered that with regard to the question of the number of municipalities, the initial proposal of the Ministry of the Interior, under Minister Konstantinos Petridis, spoke of only 14 municipal authorities in Cyprus. This would reduce administrative costs by a great deal and create prospects for the economic viability and soundness of the new municipalities. After the great reactions that followed, the Ministry of the Interior, under Nikos Nouris, came back with a proposal for 17 municipalities to ally the concerns, but populism continued, as in its wisdom the parliamentary Committee of the Interior proposed the creation of 20 municipalities, perhaps 21, if the reactions from Aradippou were finally met.
In particular, in addition to the 17 municipalities proposed by the ministry, the Interior Committee proposes the preservation of the Municipality of Strovolos as it is, the preservation of the Municipality of Paralimni also as it is, the creation of the Municipality of Ayia Napa with the Municipality of Sotira and the community of Liopetri, the creation of a municipality with the union of the Municipality of Deryneia with the communities of Acheritou and Frenarous and the creation of the municipality of Eastern Paphos. , based in Geroskipou and the communities of Achleia, Timis, Agia Marinauda, Agia Varvara, Anaritos and Mandria. Then, in a megaton that nadia comaneci would be jealous of, they stressed that any mergers must go through referendums. In other words, we see the House, instead of thinking about the general good of the citizens, which is to enjoy better services at lower prices, to claim with the acts of Oscar populism and to give the citizens the floor to decide their own good, just to ally the concerns and reactions of the local authorities. I, however, thought that Members were elected to serve the interests of the people and not to give them the pass to decide whether to maintain their kingdoms.
With the reform, the new municipalities will have increased powers and powers on a wide range of issues. They will be economically independent of the central state and will no longer exercise a feasibility check, but a review of legality. They will also be administratively independent of the central state, so that they can pursue real politics in the local community.
In other words, they will become real local self-governments, as set out in the Council of Europe's Charter of Local Self-Government.
So instead of the House focusing on the substance of the outstanding issues for completing the reform puzzle, which is the responsibility of social policy, health issues, the management of industrial areas, and the safeguards for state sponsorship in the next stages of the process, it stresses the need for referenda and unfortunately the government has given in to this blackmail.
