You are here

Press: Good Friday for foreclosures

21/08/2014 09:29
The major issue in today’s financial press is the decisions of the Council of Ministers for the protection of borrowers with a mortgaged first residence, within the framework of the modernization of the legislation on the foreclosures of mortgaged properties.

Other issues concern the agreement for the sale of assets related to Societatea Companiilor Hoteliere Grand SRL against €95 million signed by Bank of Cyprus and the study of the World Health Organization on drug prices.

The “Economy” inset of newspaper “Phileleftheros” refers to the decisions of the Council of Ministers for the protection of borrowers with a mortgaged primary residence, within the framework of the modernization of the legislation on the foreclosures of mortgaged properties. According to the report, the government tries to secure the vote of the parties with the abolition of the banks’ privileges. The deliberations with the troika continue and the creditors want changes in some of the measures announced by the Council of Ministers. The President called an extraordinary meeting of the party leaders tomorrow at the Presidential palace.

Elsewhere the newspaper reports that the Council of Ministers will be informed about the situation in Cyprus Airways tomorrow.

Other headlines:

-New tax ratios in properties in early 2015

-Changes ahead of foreclosures

-Tax changes until the end of the year

-What data of the banks will be revealed with the stress tests

The newspaper “Politis” reports that the World Health Organization started its study on the medicine prices in Cyprus and found out that it pays the most expensive medicine in the world in the private sector due to a lack of a legislation to require doctors to prescribe the substance instead of the brand of the drug or to allow pharmacists to have the corresponding drugs.

The “Economy” inset of the newspaper reports that negotiations for the foreclosures continue today.

Other headlines:

-Block in unilateral change of interest rates

-Gains for CSE general index

-Tourism pushes Greek surplus up

The “Economy” inset of newspaper “Simerini” refers to the decisions of the Council of Ministers for the protection of borrowers with a mortgaged first residence. According to the report, the governmental framework will be tabled to the Parliament together with the foreclosures bill aiming at the protection of the vulnerable borrowers.

The newspaper also refers to the developments for the Larnaca marina and port.

Other headlines:

-“Flirting” with Egypt and Emirates

-Deleveraging of BOCY continues

-Concerns ahead of meeting

The newspaper “Haravgi” refers to the decisions of the Council of Ministers for the protection of borrowers with a mortgaged first residence. According to the report, the government tries to shift the debate elsewhere hoping to get from the house to what agreed in advance with the troika. It is stressed that the Council of Ministers did not accept the key recommendations of the parties and the safety net of primary residence and business premises.

The “Economy” inset of the newspaper refers to the agreement for the sale of assets related to Societatea Companiilor Hoteliere Grand SRL against €95 million signed by Bank of Cyprus.

Other headlines:

-Findings of T. Antoniou to Attorney General on Friday

-AKEL: PR stunts

-Placements of 3000 unemployed graduates

The newspaper “Alithia” refers to the decisions of the Council of Ministers for the protection of borrowers with a mortgaged primary residence. According to the report, these decisions have to do with the abolition of the privileges of the banks on unfair terms in financial services, the amendment of the interest rate liberalization law so that it applies to all valid contracts and credit facilities, the abolition of the right of banks to unilaterally increase the interest margin at the expense of borrowers and the briefing of the debtors and guarantors for changes to the base rate and the time of payment of interest.

The “Economy” inset of the newspaper reports that the appointments of new unemployed graduates have started.

Other headlines:

-Citrus to Arab Emirates

-BOCY sells assets

-Trade surplus of €16.8bn for the euro area