Society is paying the cost of the government’s contradictions
Statement by the Head of the Economic Research Bureau of the C.C. of AKEL Haris Polycarpou
AKEL C.C. Press Office, 20th November 2020, Nicosia
AKEL does not accept that society will again be burdened with the cost of the damage caused by the government’s contradictions and regressions on the issue of foreclosures.
Six months ago, the Finance Minister supported the need to suspend foreclosures in order to address the pandemic’s adverse effects on borrowers. Today he supports the opposite, despite the fact that the extraordinary conditions remain unchanged and the problems are becoming more acute.
The return of the banks to the practice of express foreclosures was to be expected, although not acceptable. What is provocative, however, is the ease with which the government every time aligns itself in support of the demands banks put forth and against the interests of society.
We consider it necessary as much support as possible must be provided to to working people and small and medium-sized enterprises in these very difficult economic conditions. That is precisely why we insist on the need to extend the suspension period of foreclosure procedures until March 2021 concerning the primary family home with a market value of up to € 350 thousand and the professional premises of very small businesses.
