Troika insolvency experts due in Cyprus

A team of technocrats from the troika will be arriving on the island in November, to assess the insolvency framework prepared by the government to complement the law on foreclosures.

According to the Cyprus News Agency (CNA) the experts are expected on the island on November 10.

During their stay, they will hold meetings with political parties to exchange views on the framework, which aims at providing a safety net for certain vulnerable groups who may be at risk of losing their homes and business because of the downturn.

The aim is to have the framework ready by the end of the year. The government is already discussing the bills forming it with political parties who had been asked to designate one expert each.

Main opposition AKEL chose to sit on the fence, refusing to send an expert.

Source: Cyprus Mail

Cyprus Profile

articles | 03 November 2014