The European Parliament turns its back on borrowers
The European Parliament’s rejection of the need to protect primary residence is a missed opportunity for a fair, social housing policy
11 March 2026, AKEL C.C. Press Office, Nicosia
Yesterday’s vote in the European Parliament plenary session revealed, once again, the gap between the declarations and the real will of the right-wing, conservative political groups. Amendments aimed at protecting borrowers were rejected, depriving them of important tools for protecting the human right to housing.
Among these was an amendment tabled by AKEL, with the support of the Left group, to allow national courts to examine, on their own initiative, the unfair nature of contractual terms, while the sale would be suspended until the assessment was completed, in accordance with Directive 93/13/EEC.
The rejection of this amendment clearly reveals the priorities of the Political Groups in the European Parliament, which act as bodyguards for banks and hedge funds. That is why the Cypriot MEPs from DISY, DIKO, and far-right ELAM voted against the amendment. Does this foreshadow the position that their parties will take in the Cypriot Parliament on the corresponding proposal submitted by AKEL?
The Political Groups of the EPP, the Socialists, and the Conservatives also voted against another important amendment tabled by AKEL, which provided that, in the event of the sale or auction of a primary residence, the remaining debt associated with the property would be written off. By doing so, they took away a basic safeguard of social justice that would have prevented citizens from losing their homes and remaining trapped in lifelong debt.
They even voted against an amendment tabled by AKEL to impose a fair annual property tax of 1% on properties worth more than €2,000,000, with the aim of financing a socially just housing policy.
The European United Left group voted against the Report of the Special Committee on Housing, denouncing it for treating housing as a commodity rather than proposing specific measures to protect the human right to housing as a social good.
11.03.2026
