Bill offsetting loans with bonds to benefit certain depositors

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Bill offsetting loans with bonds to benefit...
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By Stelios Orphanides

AKEL and DIKO, the two major opposition parties in Cyprus’s parliament, will vote in favour of a draft bill offsetting loans granted to buyers of bonds issued by Bank of Cyprus and Cyprus Popular bank before the 2013 banking crisis, lawmakers of the two parties said.

This paves the way for the approval of the bill, proposed by House speaker and former EDEK chairman Yiannakis Omirou, even after finance minister Harris Georgiades expressed reservations concerning provisions conflicting with the constitution and the impact on...


This article was automatically added to our system 14-4-2016

Bill offsetting loans with bonds to benefit certain depositors


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