The foreclosures laws passed by the Cyprus parliament last Saturday are incompatible with the requirements of the Memorandum of Understanding (MoU), according to a European Commission spokesman.
Update 24 April. MEP Robert Sturdy has raised a question in the European Parliament requesting the Commission for an update on the current state of affairs concerning the clearance of Cyprus' Title Deed backlog.
UPDATE 7/2/2013 - MEP Sir Graham Watson has asked the Commission if it is aware that Cypriot banks are telling property buyers they will not receive title deeds unless they contribute thousands of Euros to their developer's outstanding debts.
The European Commission has opened infringement proceedings against Cyprus regarding the application of EU Directives on unfair commercial practices and unfair contract terms.
Appeals to the EC that it would recommend that the withholding of title deeds or legal ownership of immovable property would be blacklisted under the provisions of the UCPD have been rejected.
David Martin MEP, who represents Scotland in Brussels and Strasbourg, has asked the European Commission to outline the conclusions of its report into the practices property developers in Cyprus.
Daniel Hannan, MEP for South East England, has raised a question in the European Parliament relating to a complaint raised by Denis O'Hare of the Cyprus Property Action Group (CPAG) in 2011.
The Civil Justice Directorate of the European Commission has replied to numerous letters of complaint it has received concerning Cyprus property developers and unfair commercial practices.
Cyprus has until early January to reply to a memo from the EU following a petition by the Cyprus Property Action Group and 41 MEPs calling for confirmation that withholding Title Deeds breaches EU fair practice laws.
The Island's property laws and consumers’ rights are about to come under the scrutiny of the European Commission following a written question to the European Parliament by Irish MEP Seán Kelly.
An estimated 50,000 Cypriot property owners moved closer to getting their Title Deeds this week, after MEPs, British leaders and the European Commission rallied to pressure Cypriot authorities to enforce EU law.
Alpha Panareti, a Cyprus property developer based in Paphos, has been named in a question raised in the European Parliament by MEP for Scotland George Lyon in connection with EU citizens who have been defrauded by property investment schemes.
Alpha Panareti, a Cyprus property development company, was named in a question raised in the European Parliament by Derek Roland Clark MEP for East Midlands region who is seeking advice for one of his constituents.
EC Vice-President Ms Viviane Reding has replied to Daniel Hannan’s question concerning developer mortgages in Cyprus. However, the answer she gives fails to answer the question asked and I wonder if someone is trying to deceive the European Commission?
The level of Cyprus public debt reached €17.8 billion, corresponding to 105% of GDP, in the third quarter of 2010 according to a recent article in StockWatch.
A call by MEP Daniel Hannan in the European Parliament for a fact-finding mission to Cyprus to investigate the numerous Title Deed problems has been rejected by Viviane Reding, Vice-President of the European Commission.
In a recent press release, the Cyprus Ministry of Finance welcomed the results of the EU-stress tests recently carried out on 91 credit institutions throughout the member states of the European Union
The Cyprus News Agency has reported that government has submitted its Stability Programme to the European Commission, which includes the basic targets to reduce the budget deficit to 6% in 2010 and below 3% by 2013.
