If the Synergy government had any sense of the real problems of society, it would have already moved heaven and earth to support households and businesses that are also kneeling from the continuous increases in interest rates, says AKEL. "The problem is so big that without support measures the pressure on society will be unbearable."
Through the mouth of Harris Polycarpou, it notes that it is our belief that the State has a responsibility to intervene with concrete measures to support borrowers, especially those in greatest need:
"First, in cooperation with the Central Bank of Cyprus, ensure that the notorious Code on Restructuring is implemented in order to provide temporary relief from the increased instalments. Such solutions include extending the repayment period of the loan, spreading the extra amount of the instalment over the entire loan or even repaying the extra amount at the maturity of the loan.
Second, to first adopt support measures through the KEDIPES of a state agency and ensure that the new rent-versus-payment plan is in line with the current situation.
Third, to put pressure on the banks to use the windfall profits from the increase in interest rates for the benefit of society. We note that in Spain they are already proceeding to tax the banks' excess profits.
In Cyprus, however, the government is indifferent to what is happening in the rest of the world. It lives in its own world, backing big financial interests and leaving society unprotected."
Contents of this article including associated images are belongs Cyprus Times
Views & opinions expressed are those of the author and/or Cyprus Times
Source
