Major issue of today’s financial press is the reaction against the draft law concerning the removal of Central Bank’s authority to apply the relevant regulations of the already existing law over bounce back cheques.
The “Economy” inset of newspaper “Phileleftheros” under the title “Conflict for bounce back cheques” mentions that the new draft law, proposed by DISY MP, Christodoulos Taramountas, calls CB’s independence into question, after the adoption of the legislation concerning CB’s complete autonomy from any political decisions. Mr. Taramountas has asked the Central Bank to suspend the operation of the Central Record Office of Information claiming that the amount of money (CYP 1000) for someone to enter the black list is too low, while the real reason is that he intends to remove CB’s authority to apply the relevant regulations of the existing law. According to the report, the issues of regulation severance and CROI operation were introduced by MPs, who had then proceeded to criticisms of the Central Bank Governor for delaying the application of the Record Office.
Elsewhere, the newspaper refers to AKEL’s General Secretary, Demetris Christofias, and his statements that investors are not to take back the money they lost in the CSE during the period 1999-2000.
The “Economy” inset of newspaper “Simerini” under the title “CYP 300 million subvert economy” highlights that the Cyprus Chamber of Commerce and Industry is opposed to the aforementioned draft law and the suspension of the Central Record Office of Information that is to act as a black list for the bounce back cheques issuers. It is worth mentioning that although the MP Christos Klerides submitted a compromise draft for bounce back cheques, his proposal was not discussed by the Parliamentary Committee of Legal issues.
Elsewhere, the inset points out that the Ministry of Finance is in favour of the imminent rate cuts.
The “Economic” inset of newspaper “Alithia” under the title “AKEL-DIKO against government” deals with the debates in Parliament over the CSE verdict. According to the report, the opposition MPs, Demetris Christofias, Georgos Lillikas, Zacharias Koulias and Stavros Evagorou launched a harsh attack against the government, while Mr. Evagorou proposed the resignation of the Minister of Finance. Mr. Lillikas in his turn accused DISY MPs Nikos Anastasiades and Prodromos Prodromou for having objected to different acts proposed by the Parliament in their attempt to protect investors.
According to the same report, DISY MP Lefteris Christoforou claimed that CSE’s Legal Service was equally responsible for not handling CSE cases properly.
Elsewhere, the newspaper mentions that the Cabinet has appointed a Co-ordination body to arrange the issue of Russian visas.
The “Economy” inset of newspaper “Phileleftheros” under the title “Conflict for bounce back cheques” mentions that the new draft law, proposed by DISY MP, Christodoulos Taramountas, calls CB’s independence into question, after the adoption of the legislation concerning CB’s complete autonomy from any political decisions. Mr. Taramountas has asked the Central Bank to suspend the operation of the Central Record Office of Information claiming that the amount of money (CYP 1000) for someone to enter the black list is too low, while the real reason is that he intends to remove CB’s authority to apply the relevant regulations of the existing law. According to the report, the issues of regulation severance and CROI operation were introduced by MPs, who had then proceeded to criticisms of the Central Bank Governor for delaying the application of the Record Office.
Elsewhere, the newspaper refers to AKEL’s General Secretary, Demetris Christofias, and his statements that investors are not to take back the money they lost in the CSE during the period 1999-2000.
The “Economy” inset of newspaper “Simerini” under the title “CYP 300 million subvert economy” highlights that the Cyprus Chamber of Commerce and Industry is opposed to the aforementioned draft law and the suspension of the Central Record Office of Information that is to act as a black list for the bounce back cheques issuers. It is worth mentioning that although the MP Christos Klerides submitted a compromise draft for bounce back cheques, his proposal was not discussed by the Parliamentary Committee of Legal issues.
Elsewhere, the inset points out that the Ministry of Finance is in favour of the imminent rate cuts.
The “Economic” inset of newspaper “Alithia” under the title “AKEL-DIKO against government” deals with the debates in Parliament over the CSE verdict. According to the report, the opposition MPs, Demetris Christofias, Georgos Lillikas, Zacharias Koulias and Stavros Evagorou launched a harsh attack against the government, while Mr. Evagorou proposed the resignation of the Minister of Finance. Mr. Lillikas in his turn accused DISY MPs Nikos Anastasiades and Prodromos Prodromou for having objected to different acts proposed by the Parliament in their attempt to protect investors.
According to the same report, DISY MP Lefteris Christoforou claimed that CSE’s Legal Service was equally responsible for not handling CSE cases properly.
Elsewhere, the newspaper mentions that the Cabinet has appointed a Co-ordination body to arrange the issue of Russian visas.
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