President Christodoulides faces deadline for twelve pieces of financial legislation

President Nikos Christodoulides is approaching a 15-day deadline to address twelve pieces of legislation concerning foreclosures, the insolvency framework, guarantors, and the body for out-of-court financial dispute resolution. The President must decide whether to sign the bills, refer them back to parliament, or challenge them before the Supreme Court. The Law Office of the Republic is currently providing legal counsel to the President regarding the constitutionality of these measures. Sources indicate that unconstitutional provisions have been identified in certain laws, which originated as party-led legislative proposals. The government and the Law Office are in continuous consultation to finalize decisions before the deadline expires. If the President chooses to refer any laws back to parliament, this must be completed by Tuesday to allow the parliamentary Finance Committee time for review. The Law Office is expected to deliver its final recommendations on the remaining bills today.