25/07/2014 06:58
The major issue in today’s financial press is the deliberations with the troika on foreclosures.
The “Economy” inset of newspaper “Phileleftheros” refers to yesterday’s deliberations with the troika on the foreclosures bill. According to sources, the international creditors no longer discuss any new deferrals on foreclosures and insolvency issues as, on the one hand, they believe that the law will push borrowers begin repaying their obligations, while on the other they are concerned about the developments in the political scene and whether the government will be able to secure the necessary majority in Parliament.
Elsewhere the newspaper reports that according to Central Bank data, loans that are not performed for more than 90 days climbed to €27.5 billion in May from €27.3 billion a month ago.
Other headlines:
-Police requested report on Chlorakiotis
-CTO to request reduction in airport duties
-Quality competition in cooperation with EOQ
-Buena Vista wants Ledra Palace
The “Economy” inset of newspaper “Politis” refers to the meeting of the troika with President Anastasiades. According to sources, in its effort to balance things, the government stresses the need for simultaneous promotion of the foreclosures bill and this on the insolvency, which will create a better protection framework for the borrower. Despite the initial denial of the troika, a common ground has been found. Talks will continue today with the Finance Minister.
“Politis” also reports that the announcement of FBME Bank refers to measures for cooperation with the US authorities after complaints of the US Treasury on money laundering.
Other headlines:
-Zero tolerance for mistakes of the past – CCB
-Losses of 0.33% in the CSE
-ASE up
The newspaper “Simerini” refers to yesterday’s deliberations of the government with the troika on the foreclosures plan. According to the report, the troika remains firm in its claim to bypass the constitutional right of the citizens to legal proceedings, claiming that such a development would make the sale of real estate time-consuming, while it intensifies threats to the government that if the issue is not closed, the next tranche will not be disbursed.
In an effort to bridge the gap and since deliberations with the Finance Minister and the CB Governor were fruitless, the troika had a meeting with the President of the Republic. However, neither the President managed to find a solution and deliberations will continue today.
The “Economy” inset of the newspaper reports that DIKO wants explanations from the Central Bank for the supervision of FBME. As is known, FBME came under the control of the CB after allegations for money laundering from the US. FBME itself went on the offensive yesterday, accusing the CB for its incentives and talking about hostile acquisition.
Other headlines:
-We will end in autumn – More than 20 investors for CAIR, Communications Minister says
-There are no banks in Cyprus anymore – Averof against bankers
The “Economy” inset of newspaper “Haravgi” refers to the reactions of the parties and organizations for the foreclosures bill. As noted, the political parties say that they will not vote for the bill if the necessary safety valves protecting the permanent residence are not adopted.
“Haravgi” also reports that the CTO is undertaking the initiative to reduce airport duties.
Other headlines:
-Upgrading of the area a requirement
-Talks on foreclosures continue
-“Red loans” going up
The “Economy” inset of newspaper “Alithia” refers to the interest expressed by US investors of Buena Vista in the historic Ledra Palace hotel in Nicosia and Kermia in Ayia Napa. According to the report, Buena Vista is one of the largest companies in the world in the tourism market and management of golf courses. The preliminary proposals of Buena Vista for Ledra Palace refer to a consortium with the Archbishopric, financing of the renovation of the hotel and running it under American management.
Elsewhere the newspaper reports that DISY President, Averof Neophytou criticized strongly the banks and the way of operation of the banking system.
Other headlines:
-Zero tolerance from CCB
-Reduction of airport duties
The “Economy” inset of newspaper “Phileleftheros” refers to yesterday’s deliberations with the troika on the foreclosures bill. According to sources, the international creditors no longer discuss any new deferrals on foreclosures and insolvency issues as, on the one hand, they believe that the law will push borrowers begin repaying their obligations, while on the other they are concerned about the developments in the political scene and whether the government will be able to secure the necessary majority in Parliament.
Elsewhere the newspaper reports that according to Central Bank data, loans that are not performed for more than 90 days climbed to €27.5 billion in May from €27.3 billion a month ago.
Other headlines:
-Police requested report on Chlorakiotis
-CTO to request reduction in airport duties
-Quality competition in cooperation with EOQ
-Buena Vista wants Ledra Palace
The “Economy” inset of newspaper “Politis” refers to the meeting of the troika with President Anastasiades. According to sources, in its effort to balance things, the government stresses the need for simultaneous promotion of the foreclosures bill and this on the insolvency, which will create a better protection framework for the borrower. Despite the initial denial of the troika, a common ground has been found. Talks will continue today with the Finance Minister.
“Politis” also reports that the announcement of FBME Bank refers to measures for cooperation with the US authorities after complaints of the US Treasury on money laundering.
Other headlines:
-Zero tolerance for mistakes of the past – CCB
-Losses of 0.33% in the CSE
-ASE up
The newspaper “Simerini” refers to yesterday’s deliberations of the government with the troika on the foreclosures plan. According to the report, the troika remains firm in its claim to bypass the constitutional right of the citizens to legal proceedings, claiming that such a development would make the sale of real estate time-consuming, while it intensifies threats to the government that if the issue is not closed, the next tranche will not be disbursed.
In an effort to bridge the gap and since deliberations with the Finance Minister and the CB Governor were fruitless, the troika had a meeting with the President of the Republic. However, neither the President managed to find a solution and deliberations will continue today.
The “Economy” inset of the newspaper reports that DIKO wants explanations from the Central Bank for the supervision of FBME. As is known, FBME came under the control of the CB after allegations for money laundering from the US. FBME itself went on the offensive yesterday, accusing the CB for its incentives and talking about hostile acquisition.
Other headlines:
-We will end in autumn – More than 20 investors for CAIR, Communications Minister says
-There are no banks in Cyprus anymore – Averof against bankers
The “Economy” inset of newspaper “Haravgi” refers to the reactions of the parties and organizations for the foreclosures bill. As noted, the political parties say that they will not vote for the bill if the necessary safety valves protecting the permanent residence are not adopted.
“Haravgi” also reports that the CTO is undertaking the initiative to reduce airport duties.
Other headlines:
-Upgrading of the area a requirement
-Talks on foreclosures continue
-“Red loans” going up
The “Economy” inset of newspaper “Alithia” refers to the interest expressed by US investors of Buena Vista in the historic Ledra Palace hotel in Nicosia and Kermia in Ayia Napa. According to the report, Buena Vista is one of the largest companies in the world in the tourism market and management of golf courses. The preliminary proposals of Buena Vista for Ledra Palace refer to a consortium with the Archbishopric, financing of the renovation of the hotel and running it under American management.
Elsewhere the newspaper reports that DISY President, Averof Neophytou criticized strongly the banks and the way of operation of the banking system.
Other headlines:
-Zero tolerance from CCB
-Reduction of airport duties
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