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Cyprus

Parties name insolvency experts, except AKEL

All parliamentary parties apart from AKEL have appointed one member to join a team of technocrats drafting the insolvency framework, the government said on Friday.

President Nicos Anastasiades had asked partied to nominate one expert each to take part in the preparation and avoid any disagreements later on.

AKEL’s leader Andros Kyprianou said in a letter that the party would not be taking part because its participation “will not serve anything since, unfortunately, there is no political basis to base the technocrats’ cooperation.”

DIKO is sending Giorgos Kolokassides while DISY will be represented by Christos Triantafyllides. Tasos Yiasemides will take part on behalf of EDEK and Paris Mavrommatis for the Green party.

EVROKO will be represented by its chairman, Demetris Syllouris, and the Citizen’s Alliace by Stelios Americanos.

The insolvency laws are seen as providing an extra ‘safety net’ to debtors who have fallen on hard times.

The opposition had wanted new bankruptcy laws to be passed along with the foreclosures bill, but then yielded.

 

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