Christodoulides and his government are proving at every opportunity that they remain staunch defenders of the banks and hedge funds

 

14 May 2026, AKEL C.C. Press Office, Nicosia

Nikos Christodoulides and his government are proving at every opportunity that they remain staunch defenders of the banks and hedge funds, given that they are willing to sacrifice the interests of society so that the banks and hedge funds don’t lose a single euro of their super profits.

The referral of AKEL’s bill on foreclosures to the Supreme Court is directed not only against AKEL, but also against the majority of political parties—with the exception of DISY and far-right ELAM—that had voted in favor of AKEL’s bill. It is directed against the EU directives requiring Cyprus to comply with the European framework for effective legal remedies. It goes against what was applicable in Cyprus up until 2018 and was aggressively overturned by the Anastasiades government, DISY, and DIKO so as to provide yet another tool to the banks and hedge funds.

Above all, however, it constitutes a blatant provocation and is directed against society as a whole, conveying the message that society’s interests extend only as far as the interests of the banks and hedge funds are not harmed.

The response to this is not merely legal; it is not confined to whether the proposed law is unconstitutional or not. The answer is political and must be given in the strongest possible way by society: by voting and strengthening, in the May 24 parliamentary elections, the most consistent and powerful voice of society, AKEL – Left – Social Alliance.