Insider Economy Foreclosures bill could be referred to Supreme Court

Foreclosures bill could be referred to Supreme Court

A lot of behind the scenes talk is currently taking place among parliamentary party leaders following President Nicos Anastasiades’ referral to the House of the two new foreclosures bills aiming to slow down the process.

Whether parliament withdraws the bills or not will be decided on Monday, at an extraordinary plenary session. And all eyes are now turned on opposition centre Diko whose vote is crucial for the final outcome.

The executive bureau of the island’s third largest party is meeting tomorrow to take a stand on this issue with insiders saying they are divided.

Other opposition parties such as left-wing Akel, the Greens, Solidarity Movement and Citizens Alliance have made clear they won’t accept the President’s referral.

Should parliament decide to not accept the President’s referral and scrap the bills, he has the prerogative to refer the matter to the Supreme Court for adjudication.

The Attorney-General has found that the two bills are in breach of several articles of the constitution – including the right to freely enter into a contract, the right to enjoy one’s property, and equality before the law.

A referral to the Supreme Court means that existing legislation will remain in place for several months – something which is appealing to both the government and commercial banks.

President Anastasiades yesterday sent two letters to parliament underlining that the bills have been found to be unconstitutional, and again urged MPs to withdraw them as they could cause serious damage to the economy.

At the same time, the House expects a letter from the Attorney General elaborating on the bills’ legal and constitutional aspects that MPs should seriously take into consideration.

Meanwhile, Finance Minister Harris Georgiades and Demetris Georgiades, head of the Fiscal Council, yesterday told a joint press conference that the fact foreclosures regulations are now stuck in limbo causes uncertainty in the market. And that this implies potential adverse consequences on the entire economy.

Insiders said the government hopes for an alliance with Diko even though they are aware of the split positions on the issue within the party.

Some Diko MPs had supported the idea of postponing the passage of the bills until after September, giving some time to the Estia debt relief scheme for homeowners to kick in.

But Diko vice chairman Alecos Tryfonides yesterday insisted the bills should stand.

 

Read more:

 

 

https://in-cyprus.com/finmin-fiscal-council-call-on-mps-t%ce%bf-reconsider-foreclosures-amendment/

 

 

 

 

 

 

 

 

 

Top Stories

U.S. Supreme Court allows federal executions to proceed

  The U.S. Supreme Court ruled on Tuesday that the first federal executions in 17 years could proceed, overturning an injunction blocking them in order...

Belgium, once hard-hit, reports zero coronavirus deaths for first time since March

  Belgium, which has reined in the coronavirus after becoming the worst-hit mid-sized country in the world, reported zero new coronavirus-related deaths in 24 hours...

Limassol: 65 year old killed in labour accident

  A 65 year old Greek Cypriot man was killed in a fatal labour accident that occurred at a Limassol timber storage area on Tuesday...

President commends France’s determination to act as pillar of stability in East Med

  In a period of immense challenges and illegal actions, the presence of the French naval force in the broader geographical region tangibly proves the...

Limasol: 2 years jail for break-in

    Limassol district court has sentenced a 57 year old man to two years in jail after finding him guilty of breaking into a house...

Taste

Halloumi cheese fingers

Ingredients Serves: 2 1/2 tablespoon olive oil 175g (6 oz) halloumi cheese, cut into sticks 1 dessertspoon lemon juice 1/4 teaspoon dried oregano freshly ground black pepper to taste Method Prep:5min ›...

Koupes (cracked wheat pies) with mushrooms

Ingredients: For the dough: 1½ cup bulgur wheat 2 cups water 1 tsp. salt For the filling: 250gr. mushrooms, finely chopped ½ cup of olive oil 2 big onions, coarsely chopped 1...

Fried zucchini balls with halloumi

Ingredients: 6 medium zucchinis (approximately 1kg) 1 small onion, grated 1 large halloumi (about 250gr.), grated ½ cup simple flour 2 tsps. fine lemon zest 2 big eggs 1 tbsp. fresh...

Rocket salad

Ingredients: 4 cups rocket leaves, rinsed and dried 1 cup cherry tomatoes 1 cup pomegranate seeds 1 red bell pepper ½ cup croutons 2-3 light cheese slices (grated) salt ½ of a...