Filenews 30 June 2022 - byEleftheria Paizanou
Hostage to disagreements and ideological differences between the parties and the government remains the National Recovery Plan, through which Cyprus will receive up to €1.2 billion. by 2026. The country is still inconsistent in the commitments it made to the Commission and remains exposed to the European authorities, as well as yesterday's new attempt made among the Ministry of Finance for consensus ended up in the void.
Yesterday, a consensual formula would be sought for the two bills that strengthen the legal framework for the management of non-performing loans and govern the licensing and operation of loan servicing companies. This has not been possible, as the opposition parties still have strong reservations about protecting guarantors, despite the revision of several relevant bills.
These bills, which have been under discussion since last September, are the last prerequisite of the second tranche and should be approved by the end of 2021. In fact, due to the non-approval of the bills, the disbursement of the second tranche (85 million) is delayed, while the remaining tranches will be delayed.
In addition to the changes demanded by the opposition parties to the two bills, yesterday they had raised broader issues, concerning the legislation of foreclosures, the mechanism of the Central Bank for restructuring, as well as the creation of a Special Court, which will hear financial disputes, as well as foreclosure cases.
They want more
According to information from "F", due to the fact that the controversial bills do not get the required majority in parliament, some opposition parties that are divided in two are asking to get more from the government, so that ... to persuade their dissenting MPs to treat legislation differently. As we have been told, the dissenting MPs of some opposition parties will only be in favour of the two bills when they ensure that there will be changes both in the context of foreclosures and on the issue of guarantors! On the other hand, there are opposition parties that are not going to give a positive vote to the bills anyway, however, they insist on overall changes to the bills.
The Foreclosure Court
The Ministry of Finance, responding to the party "wants", expressed its will to reinstate a government bill to establish a special Court for non-performing loans, which, according to a relevant announcement by the ministry, will not contain provisions that will facilitate bad payers, preventing the smooth processing of the loan restructuring .
At the same time, yesterday, the Minister of Finance Konstantinos Petrides presented to the party staffs the overall government plan of the government for the protection of the main residence.
