Business | Daily | Tourist

NICOSIA — Hundreds of Cypriots staged a protest outside the Presidential palace against proposed legislation aimed at helping the bailed-out country’s beleaguered banks collect on bad loans.

The protest by mostly left-wing groups comes ahead of a parliamentary vote on the legislation, which would allow banks to go after debtor’s properties faster if they don’t pay their mortgage costs.

Cyprus currently has a very lengthy foreclosures process and many bad loans.

Its international creditors say the legislation, which is meeting stiff resistance from several parties, is necessary for the country to collect its next batch of bailout money.

Protest organizers said they “aren’t at all convinced” by President Nicos Anastasiades’ assurances that those who lost jobs or saw their income dwindle during the country’s financial crisis won’t lose their homes.

The post Cypriots Protest Home Foreclosures appeared first on The National Herald.

Source: The National Herald
Share it now!
Who We Are

GQS acts as an “information representative” providing a variety of accurate and authoritative analytics and responses About Greece. Our field of expertise ranges from simple Daily Life questions related to Tourism or the History of Greece, up to large Business related projects such as Economic Research, Human Resources Selection or Real Estate Services.

Find out more

Contact Us

Are you interested in obtaining any kind of information about Greece?

Let us help you!

If your requirements go beyond simple services and you want specialized information, you will receive a detailed email for any charges.

  • Weather

    July 23, 2018, 12:58 am
    real feel: 29°C
    current pressure: 1010 mb
    humidity: 32%
    wind speed: 2 m/s NNW
    wind gusts: 2 m/s
    UV-Index: 0
    sunrise: 6:21 am
    sunset: 8:43 pm
  • Currency