AKEL general secretary urges president to sign foreclosure bills

General Secretary of AKEL, Stefanos Stefanou, has formally requested that the President of the Republic refrain from exercising his right to refer the recently passed foreclosure legislation back to Parliament. During a visit to the PEO trade union on Holy Tuesday, Stefanou argued that the party's proposals are constitutional and necessary to provide relief to borrowers. He highlighted the ongoing economic pressures facing households and small-to-medium enterprises, citing inflation, poverty, and the global impact of ongoing conflicts. The AKEL leader reiterated that the state must provide support through a structured policy framework built on three pillars. These pillars include reducing taxes on electricity and fuel to combat high costs, developing robust state social policies and infrastructure, and strengthening labor rights. Key labor proposals mentioned include the protection of collective agreements and the Cost of Living Allowance (COLA). Stefanou insisted that these measures would mitigate the financial burden on vulnerable groups, including low-income pensioners, low-wage earners, and young people. While the government has previously expressed concerns regarding the constitutionality of such legislative interventions, AKEL maintains that their proposals were developed with legal validity in mind.