Cyprus Mail

Vote on foreclosures postponed yet again

THE HOUSE plenary, scheduled to convene on Monday to discuss a series of draft bills on foreclosures, will be postponed until the end of next week, possibly Friday, reported the Cyprus News Agency.
This is the second time lawmakers have postponed the crucial plenary session that will tackle the controversial troika-required foreclosures bill.
The legislation was initially meant to be discussed and passed today, Friday, but was pushed back till Monday to give parties more time to reach consensus on the bill. It seems even more time is needed to work through additional amendments demanded by most parties in order to secure a parliamentary majority. Any amendments will also require troika approval.
Chairman of the House Finance Committee Nicolas Papadopoulos, speaking on Friday during an extraordinary session of the House Committees on Finance and Internal Affairs, said “the deadline is extremely tight” due to the large number of amendments that have been submitted by the political parties and which need to be screened by parliament and the Republic`s Law Office.
Finance Minister Harris Georgiades, who also attended the session, said he has already informed Cyprus` international lenders, known as the troika, about this “inconvenience” and was expected to receive a reply concerning the extension later on Friday.
Georgiades said there is time until the end of next week for the plenum to convene, in order to discuss the draft bills. “Therefore, the House has a few more days at its disposal,” the minister added.
The remainder of the discussion in parliament took place behind closed doors.
Earlier on Friday, political parties submitted a number of amendments to the draft bills in the presence of the ministers of finance and interior, the attorney-general and the central bank governor.
The draft bills need to be approved before the next Eurogroup meeting in mid-September for the country to receive the next tranche of international assistance.

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