Government belated move to serve expediencies

 

Statement of Georgos Loucaides AKEL C.C. Spokesperson George

AKEL C.C. Press Office, 16th November 2015, Nicosia

 

The statement by the President of the Republic that he will take an initiative on Non-performing loans (NPL’s) and that he will instruct the banks to proceed with fair restructurings is cause of concern. We remind the President of the Republic of the etymology of the word initiative and what is presented today as an initiative is in fact a belated move to serve expediencies and considerations. It is the Government of DISY party that has unilaterally handed all power to the banks. It is the President himself who remitted and deferred all of the provisions protecting primary family homes and small business premises. The deterioration of the ability of households and enterprises to meet their obligations is largely a result of the government’s own austerity policies which they themselves have implemented all through the previous period. This is the reason why they also bear the full responsibility.

Today, under the weight of social pressure they feel the need to create expectations in relation to the protection of households. They forget that the framework and the dangers for the selling off of homes and making households homeless is the precisely the result of their own policy choices. They should realize that we will of course continue to find us opposing them.