President Christodoulides considers referring foreclosure bills to the Supreme Court

President Nikos Christodoulides is reviewing a package of recently passed legislation concerning foreclosures and financial dispute resolution to determine if the bills are constitutional. During the 16th Nicosia Economic Congress, he expressed significant concern over the House of Representatives passing a large volume of legislation just before its dissolution ahead of the May 24 elections. He criticized the outgoing Parliament for allegedly voting for proposals they knew to be unconstitutional, effectively shifting the political burden of referring them to the Supreme Court onto the executive branch. The President stated he is consulting with the Finance Minister and the legal department to finalize his decision based on the long-term interests of the state rather than electoral pressures. Observers note that frequent legislative changes regarding foreclosures increase risks for the banking sector and could dampen investor interest in non-performing loans. The President also voiced unease regarding the future composition of Parliament, emphasizing that electoral outcomes remain the collective responsibility of the public.