Cyprus finance minister Makis Keravnos has ruled out the possibility of a blanket freeze on foreclosures, asserting that such broad interventions are not on the table. This decision follows a meeting on Tuesday with a Disy delegation led by party president and house speaker Annita Demetriou.
- These statements come in the wake of growing concerns about economic stability in Cyprus, as local authorities assess the possible risks posed by external factors.
- To support the farmers affected by this outbreak, the government has introduced a €28 million aid package, aiming to alleviate some of the financial strain caused by the disease.
During the meeting, Keravnos emphasised that any decisions regarding foreclosures must be both reasonable and balanced. He warned that drastic measures could lead to further economic complications. “We are being monitored by rating agencies, we are being monitored by the European Union and the institutions from which we have borrowed and which assess us,” he stated.
The minister made it clear that discussions surrounding a universal freeze on foreclosures are not viable at this time. “Therefore, horizontal issues regarding foreclosures, with a freeze of foreclosures at this time, should not be discussed,” he added.
Instead of a blanket freeze, Keravnos highlighted the necessity of fortifying the existing institutional framework that governs distressed loans and property repossessions. “We must strengthen the role of the Financial Commissioner so that we resolve problems without putting our economy at risk,” he insisted.
Amidst rising uncertainties in the region, the finance minister also noted that the government is keeping a close watch on geopolitical developments and their potential economic ramifications. “We are running various scenarios on a daily basis regarding the potential possible impacts on the economy due to developments in our region,” he remarked.
These statements come in the wake of growing concerns about economic stability in Cyprus, as local authorities assess the possible risks posed by external factors.
Additionally, Keravnos addressed the urgency surrounding foot-and-mouth disease, which has recently affected 42 farms across the island. He underscored the importance of immediate action to mitigate risks. “Immediate and decisive measures must be taken to reduce any threat,” he said.
In response to the outbreak, four Slovak veterinarians arrived in Cyprus this week, receiving temporary licences to assist with culling, sampling, and conducting epidemiological investigations. This swift action reflects the government’s commitment to adhering to strict protocols, especially given the disease’s spread to a third district.
To support the farmers affected by this outbreak, the government has introduced a €28 million aid package, aiming to alleviate some of the financial strain caused by the disease.
