CYPRUS: President refers to Supreme Court 4 legislative proposals on foreclosures

President of the Republic Nicos Anastasiades has decided to refer to the Supreme Court four legislative proposals adopted by the House of Representatives on Saturday during the approval of the foreclosures bill, which is a precondition for the disbursement of the next tranche of the island`s €10 billion financial assistance programme.

In a written statement, the President notes that after thorough study of the legal opinion of the Attorney General of the Republic of Cyprus that four of the six legislative proposals approved by the Parliament, but not yet signed by the President, are contravene the Constitution of the Republic, he decided instead of referring them to the House of Representatives, to refer them directly to the Supreme Court.

Regarding the remaining two legislatative items, which are in line with the Constitution, the President says in his written statement that he would decide within the period set by the Constitution and after consultation with the parliamentary parties.

The President states that for his decisions he has taken into account the interests of the vulnerable groups as well as the stability of the Cyprus economy.

Concluding, he assures that he will continue his consultations with political leaders and heads of the EU institutions to secure the continuation of Cyprus' financial program which is in the interest of the country.