26/08/2014 07:17
The major issue in today’s financial press is yesterday’s meeting at the Presidential Palace with the bankers for the foreclosures bill.
The “Economy” inset of newspaper “Phileleftheros” refers to yesterday’s meeting at the Presidential Palace on the foreclosures bill. As noted, the Cypriot and foreign banks as well as the representatives of the Cooperatives assured the President of the Republic that their priorities d not include the foreclosures of the first residence. The banks are expected to announce measures to support the vulnerable groups of borrowers. However, the changes adopted by the government on the foreclosures did not satisfy the opposition parties and according to sources and is considered the plenary session to be postponed until next week.
Elsewhere the newspaper refers to the meeting of the President of the Republic with the association for the protection of borrowers and the association for the protection of primary residence today.
Other headlines:
-The newly-appointed favour work on Sundays
-Big lists of developers in the IRD
-Applications for acquisition of bonds of €8.916.600
The “Economy” inset of newspaper “Politis” refers to the climate of consent that the government is trying to form for the approval of the legislative package on the acceleration of foreclosures and the protection of borrowers. As noted, DIKO is expected to discuss the issue today. The texts, however, of the three bills that were sent yesterday to Parliament seems to give an answer, at least partially, to a key issue highlighted by the Democratic Party, the retroactivity of regulations to protect borrowers. The bill prohibits the imposition of a surcharge via the unilaterally change of interest rates even if the right derives from the clause of increased margin, it covers existing contracts, but the amount paid by the debtor to the bank cannot be returned.
“Politis” also reports that the representation of the movement of newly-appointed in the retail trade requested the continuation of the extended timetable by the Labour Minster.
Other headlines:
-“Come and ask for regulations” – Foreclosures of the main residence are not the purpose, bankers say
-BOCY results tomorrow
-Sale of bonds of €9m – 39 applications more for six-year bonds
-Marginal gains of 0.17% in the CSE
The “Economy” inset of newspaper “Simerini” refers to the government’s and the banks’ efforts to convince the political parties to approve the foreclosures bill on Friday. Yesterday, the President of the Republic presided the meeting with the bankers and requested to cooperate to avoid foreclosures in vulnerable groups. The bankers announced new plans to protect the small debtors and assured the President that they will go after the millionaires. Today, President Anastasiades will have a meeting with the associations of borrowers and protection of primary residence, while on Thursday he will hold a meeting of the political leaders.
The newspaper also reports that according to Central Bank data, non-performing loans recorded an increase of €317 million at the end of June 2014.
Other headlines:
-“You led the country to default” – Govt. relies to AKEL for foreclosures
-Consultations for the future of CAIR
-The bureaucracy that kills – Hungarian investor in Geroskipou requested lifting of obstacles
-Extension for the development of the port-marina requested
The “Economy” inset of newspaper “Haravgi” refers to the protest outside the Labour Ministry by a group of workers under the name “Movement of Newly-Appointed of Retail Trade” to renew the decree for the opening hours of shops and to abolish the Sunday holiday. PEO denounces as immoral to use vulnerable workers to serve the employers’ interests.
“Haravgi’ also reports that according to CNA sources, the new Chairman of Cyprus Airways will be Makis Constantinides, former General Manager of the Communications Ministry.
Other headlines:
-G. Loucaides called for unity to protect society and economy
-Govt. and banks committed for foreclosures
The newspaper “Alithia” refers to yesterday’s meeting at the Presidential Palace on the foreclosures bill. According to the report, all commercial banks committed verbally and in writing to the political leadership and the society that if the foreclosures bill is approved, they will not proceed with the foreclosure of asses of small debtors but the aim is the large (debtors).
The “Economy” inset of the newspaper refers to the statements of the Communications Minister on Cyprus Airways. Mr. Demetriades said that the 15 interested parties must submit their business plans by next Friday. At this stage, they will not be binding.
Other headlines:
-“Red loans” increased by €317m in June
-New extension to Zenon consortium
-Approval of applications for bonds of €8.9m
-Business climate in Germany drops
The “Economy” inset of newspaper “Phileleftheros” refers to yesterday’s meeting at the Presidential Palace on the foreclosures bill. As noted, the Cypriot and foreign banks as well as the representatives of the Cooperatives assured the President of the Republic that their priorities d not include the foreclosures of the first residence. The banks are expected to announce measures to support the vulnerable groups of borrowers. However, the changes adopted by the government on the foreclosures did not satisfy the opposition parties and according to sources and is considered the plenary session to be postponed until next week.
Elsewhere the newspaper refers to the meeting of the President of the Republic with the association for the protection of borrowers and the association for the protection of primary residence today.
Other headlines:
-The newly-appointed favour work on Sundays
-Big lists of developers in the IRD
-Applications for acquisition of bonds of €8.916.600
The “Economy” inset of newspaper “Politis” refers to the climate of consent that the government is trying to form for the approval of the legislative package on the acceleration of foreclosures and the protection of borrowers. As noted, DIKO is expected to discuss the issue today. The texts, however, of the three bills that were sent yesterday to Parliament seems to give an answer, at least partially, to a key issue highlighted by the Democratic Party, the retroactivity of regulations to protect borrowers. The bill prohibits the imposition of a surcharge via the unilaterally change of interest rates even if the right derives from the clause of increased margin, it covers existing contracts, but the amount paid by the debtor to the bank cannot be returned.
“Politis” also reports that the representation of the movement of newly-appointed in the retail trade requested the continuation of the extended timetable by the Labour Minster.
Other headlines:
-“Come and ask for regulations” – Foreclosures of the main residence are not the purpose, bankers say
-BOCY results tomorrow
-Sale of bonds of €9m – 39 applications more for six-year bonds
-Marginal gains of 0.17% in the CSE
The “Economy” inset of newspaper “Simerini” refers to the government’s and the banks’ efforts to convince the political parties to approve the foreclosures bill on Friday. Yesterday, the President of the Republic presided the meeting with the bankers and requested to cooperate to avoid foreclosures in vulnerable groups. The bankers announced new plans to protect the small debtors and assured the President that they will go after the millionaires. Today, President Anastasiades will have a meeting with the associations of borrowers and protection of primary residence, while on Thursday he will hold a meeting of the political leaders.
The newspaper also reports that according to Central Bank data, non-performing loans recorded an increase of €317 million at the end of June 2014.
Other headlines:
-“You led the country to default” – Govt. relies to AKEL for foreclosures
-Consultations for the future of CAIR
-The bureaucracy that kills – Hungarian investor in Geroskipou requested lifting of obstacles
-Extension for the development of the port-marina requested
The “Economy” inset of newspaper “Haravgi” refers to the protest outside the Labour Ministry by a group of workers under the name “Movement of Newly-Appointed of Retail Trade” to renew the decree for the opening hours of shops and to abolish the Sunday holiday. PEO denounces as immoral to use vulnerable workers to serve the employers’ interests.
“Haravgi’ also reports that according to CNA sources, the new Chairman of Cyprus Airways will be Makis Constantinides, former General Manager of the Communications Ministry.
Other headlines:
-G. Loucaides called for unity to protect society and economy
-Govt. and banks committed for foreclosures
The newspaper “Alithia” refers to yesterday’s meeting at the Presidential Palace on the foreclosures bill. According to the report, all commercial banks committed verbally and in writing to the political leadership and the society that if the foreclosures bill is approved, they will not proceed with the foreclosure of asses of small debtors but the aim is the large (debtors).
The “Economy” inset of the newspaper refers to the statements of the Communications Minister on Cyprus Airways. Mr. Demetriades said that the 15 interested parties must submit their business plans by next Friday. At this stage, they will not be binding.
Other headlines:
-“Red loans” increased by €317m in June
-New extension to Zenon consortium
-Approval of applications for bonds of €8.9m
-Business climate in Germany drops
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