Insider Business Opposition may delay vote on NPL bills

Opposition may delay vote on NPL bills

A legislative package that will help cut down on ‘red loans’ may not be adopted anytime soon. The majority of MPs in opposition parties appear unwilling to examine the bills as quickly as possible so that they can vote on them by July 13 when the parliament closes for the Summer holidays.

July 13 had been set as a milestone date by the government which has signalled that the new framework also impacts on the agreement between CCB and Hellenic Bank. The bills were approved yesterday at an extraordinary meeting of the Council of Ministers and will be submitted to parliament today so that discussion on them can begin next week at a meeting of the Financial committee.

Despite pressures from the European authorities and warnings by Finance Minister Haris Georgiades, the majority of opposition parties have voiced strong reservations in regard to the new legislative package. In yesterday’s meeting between party leaders, some representatives of opposition parties, made it clear that they were unwilling to vote on the bills without first discussing them in detail.

They indicated that they needed time for a thorough debate and the opportunity for discussions with technocrats. And they said some of the provisions of the legislation have certain ‘grey areas’ which needed clarification.

The possibility of the bills  being discussed during the summer so that they can go to the plenary in September was also raised. The opposition accused the government of transferring the responsibility for serious financial and political issues to  parliament, which has to make a decision within a very tight time frame.

Read also: Fin Min appeals to MPs to improve NPLs framework

Top Stories

Indian woman, 25, involved in Andrei Popa murder, jailed

Larnaca District Court sentenced a 25-year-old Indian woman, resident of Larnaca, involved in the Andrei Popa case to 45 days in prison on Monday. The...

Night clubs request that they reopen with no dance floor and no bar services

The Pancyprian Association of Nightclubs (PA.SY.KE.D.) addresses a last appeal to the Minister of Health, the Minister of Finance and the Deputy Minister of...

Fifteen new coronavirus cases detected out of 2,709 tests

The Ministry of Health has announced that 15 new cases of the SARS-CoV-II virus were detected in Cyprus over the past 24 hours out...

Households and businesses affected by Medicane Ianos to be compensated

Prime Minister Kyriakos Mitsotakis promised the flood-stricken households and businesses of Karditsa that the government will stand at their side with "speed and determination",...

Workshop on forging synergies between industry and scientific research organised for Industry Week

A workshop was organised on Tuesday, in Nicosia, to discuss ways to forge synergies between industrial production and scientific research sectors, in a bid...

Taste

Souvlakia

Pork souvlaki: Put the meat and all the other ingredients in a bowl (not metal) and mix well. Cover the bowl and keep in...

Pastelli (Carob Toffee)

The nutritional sweet of Pastelli is made with the syrup of carob pods, produced by boiling their pulp until it forms a thick, sticky...

Meatballs with tomato and cumin

Place all meatball ingredients in a bowl and knead well with hands. Keep the mixture in the fridge for approximately 1 hour to thicken. In...

Crushed wheat pilaf with sausages and halloumi

Ingredients: 1 cup bulgar wheat ¼ of the cup vermicelli noodles or spaghetti, broken into small pieces 1 onion 2 sausages 1 cup tomato juice 1 vegetable stock cube 1/3 ts...