The Central Bank Governor and Finance Minister were meeting with the heads of mission of the Troika of international lenders on Thursday to iron out differences and concerns over some of the delays in implementing obligations as part of the €10 bln bailout programme.
The main thorn in the discussion on the memorandum of understanding that would lead to the conclusion of the fifth review, was the delay in drafting legislation that would allow the quicker and easier repossession of properties in order to help lower the runaway rate of non-performing loans (NPLs) in
Political pressure from all parties on the government are pushing for the legislation to have some escape clauses for the first home, so as not to lead many households to lose the roof under which they live.
Sources told CNA that Thursday's discussions aim at striking a deal between the two sides and the bill will be submitted to the
Discussions began at the
Furthermore the two sides will discuss the issue of the personal and corporate insolvency law. In case agreement is reached, the framework for the reform of the current insolvency regime will also be tabled before the Cabinet for approval next Monday.
The Cypriot authorities concluded in
Most Popular Stories
- Why the Bond Market Isn't as Safe as You Think
- Lexus Luxury Compact Sedan Wins Buyers
- Review: Pay by Phone or Just Keep Using Plastic?
- Royals Beat A's in 12-inning Wild Card Thriller
- Dallas Parents Fear Students Exposed to Ebola
- What to Look for in Mich. Jobs Market
- Construction Spending Down Again for August
- Obama Seeks Traction From Economic Recovery
- Pickup Discounts Boost September Auto Sales
- N.Y. Ups Awards of State Contracts to Minorities