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28th March 2024
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Monthly Archives: March, 2013

Bailout deal for Cyprus agreed in Brussels

Cyprus has avoided bankruptcy by securing a last-minute €10 billion EU bailout deal in Brussels following hours of tense negotiations; but the island will have its second largest bank closed with losses expected for big depositors.

Buyers’ grievences heard in EU Parliament

The European Parliament's Committee on the Internal Market and Consumer Protection heard from a petitioner about the problems he encountered when buying property in Cyprus.

Extra holiday to pass legislation on bank deposits

President Anastasiades may need extra time to get the deeply unpopular levy on Cyprus bank deposits through parliament and may have to declare Tuesday & Wednesday as public holidays to stave off a possible run on the banks.

UCPD review offers no solution for Title Deeds

Appeals to the EC that it would recommend that the withholding of title deeds or legal ownership of immovable property would be blacklisted under the provisions of the UCPD have been rejected.

Robbed by property fraud

Liberal Democrat MP Andrew Stunell raised the case of a constituent who had been subject to property fraud in Cyprus following the default of Alpha Bank and has asked for a meeting about the issue.

Cyprus property mis-selling disputes

A research briefing paper concerning property mis-selling disputes in Cyprus is available on-line at the Libraries of the House of Commons and House of Lords and the Parliamentary Office of Science and Technology.

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