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Reports written by George Psyllides

Details of aid for Pissouri landslide victims

The Interior Ministry has released details of the aid that Pissouri landslide victims, who’ve been forced to leave their homes in the Limnes, Sheromyli, Yiousouphis, Safires, Merika, Kalogeri, Merika, and Roes areas of the village can expect.

Cabinet agrees to help Pissouri landslide victims

The Cabinet has agreed to provide humanitarian assistance to Pissouri residents whose homes have become uninhabitable to the landslide affecting the Limnes, Sheromyli, Yiousouphis, Safires, Merika, Kalogeri, Merika, and Roes areas.

Compromise foreclosures bill passed by MPs

MPs have accepted the presidential veto on changes to the foreclosures law and agreed a compromise proposal to protect vulnerable borrowers enabling them to seek recourse through the financial ombudsman.

Blunt warning on foreclosures law changes

Adjustments to the law on foreclosures could have “significant negative impact” on the Cyprus banking system warns the European Central Bank (ECB) in an email to the Central Bank governor.

Foreclosure changes may have consequences

The Finance Minister has warned that Cyprus may face consequences over changes to the foreclosure legislation passed by parliament on Friday and has urged President Nicos Anastasiades to veto the bills.

Trapped buyers bill changes approved

The revised ‘trapped buyers’ bill designed to overcome the problems of the current law has been approved unanimously by MPs, but legal services have doubts that constitutional difficulties could not be resolved.

MPs freeze foreclosures despite warnings (update)

Despite MPs being warned that changing the foreclosures legislation would have negative repercussions on the banks and the economy, MPs have voted to change and suspend the legislation.

Affordable housing scheme starts next month

The government’s affordable housing scheme for low-income families will kick in next month with Cypriot citizens and other EU nationals residing in Cyprus for the past five years being eligible to apply.

Estia scheme for vulnerable homeowners approved

The cabinet has approved the debt relief scheme (Estia) designed to support and protect vulnerable homeowners; eligible borrowers will apply in September – first payments expected in December.

Possible foreclosures law changes worry banks

Banks have expressed concerns over possible changes to the foreclosures law as they fear appeals could be stuck in the island’s slow courts for many years negatively impacting their business.

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