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Cypriot Government Conducts Further Foreclosures Bill Discussions

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The Cypriot government reconfirmed that the tabled foreclosures bill offers positive mechanisms for borrower's security.

Deputy Government Spokesman Victoras Papadopoulos stated that the present method doesn't safeguard borrowers. However, opposition bodies don't agree with the proposed bill and have requested amendments to it. For Cyprus to receive its next scheduled bailout, the bill must be authorized.

President Nicos Anastasiades conducted meetings with President of the European Party (EVROKO) Demetris Syllouris and President of Democratic Party (DIKO) Nicolas Papadopoulos, regarding the foreclosures bill.

According to a source reported by Parikiaki, "The Government recognizes the right of the House to make amendments to the bill which will not revoke its overall philosophy so that the government will be able to negotiate these changes with the Troika".

Tomorrow, the President is schedule to hold discussions with President of EDEK Yiannakis Omirou and direct a Council meeting with party leaders, to further negotiate the foreclosures bill.