They are evicting people from their homes which belonged to the Coops

Statement by Christos Christofides, AKEL Political Bureau member

AKEL C.C. Press Office, 2 August 2018, Nicosia

With particular concern, we are being informed of dozens of letters sent from Spain’s Altamira Asset Management Ltd Company to tenants of rented apartments that belonged to the Co-Op Bank for eviction from their homes.

These homes were built within the context of the Cooperative Movement’s social role. Low rents were granted to those in need. The government and ruling forces  could have pursued a real social policy in the housing sector, but instead they chose to hand over the management of these property assets  (apartments/flats) to Altamira, creating in essence an enormous social issue, given that Altamira, with profit as its sole criterion, is today threatening hundreds of families with eviction.

Apart from the enormous social problem that is being created, given that many families are being threatened with eviction, this action threatens to further inflate the bubble of rents in Limassol with wider implications.

Unfortunately, this development too also confirms our grave concerns about the social impact and problems as a result of the financial crime committed against the CoOps and the assignment of loans and property assets to Altamira.

We once again urge the government and ruling forces to finally play their part, to put a stop to social insensibility and protect hundreds of families from being evicted from their homes. Otherwise, the social, economic and humanitarian consequences will be huge.