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DISY – banks request settlement of investment loans

16/09/2003 10:11
Investment loans was the major issue of discussion on the two-hour meeting held on Monday morning between the Democratic Rally party (DISY) representatives and the Commercial Banks Association. According to StockWatch sources, DISY Chairman, Nicos Anastasiades expressed his strong feelings on the issue and urged the Association to clarify its positions so as to achieve a solution.

General Manager of the Association, Giorgos Hadjianastasiou and Board member, Christos Pantziaris referred to the difficulties that may arise from the settlement of loans granted to investors in 1999-2000, however the Association clarified that it is ready to discuss the issue, provided that the banks will be submitted a plan from the executive and legislative powers.

“It is time to settle investment loans”, Mr. Hadjianastasiou said, stressing that it is a pendency which affects negatively the CSE institution and by extension the Cyprus banking sector.

The two sides agreed that the planning undertaken by the Finance Ministry should be hastened, so that the state is able to deal with the Cyprus economy. “The strong economy, the prospect for a consolidation in all sectors, as well as the island’s accession in the EU will be the solution to all problems”, the two sides concluded.