Those in Cyprus who recognise their criminal mistakes regarding the 2018 foreclosure framework should vote for AKEL’s proposal

Statement by AKEL C.C. Spokesperson Giorgos Koukoumas

29 December 2025, AKEL C.C. Press Office, Nicosia

The former President of DISY admitted in public statements that the framework for foreclosures imposed in previous years, permitting foreclosures before the judicial process was even completed, is biased in favour of the banks. This admission is significant given that it was the leaders of DISY and DIKO who collaborated with the Anastasiades government to impose this unprecedented and unacceptable framework, which scandalously favours the banks and violates the fundamental rights of citizens.

Of course, such verbal and belated admissions do not undo the blatant and devastating injustices suffered by thousands of borrowers over the years—households, professionals, and small business owners—whose assets became prey for the banks and hedge funds.

The least that those forces who sincerely acknowledge the criminal mistakes they had made regarding foreclosures can do is to vote for AKEL’s Bill Proposal which will soon be submitted before them again, to restore the right of borrowers to appeal to the courts before foreclosures proceed.

This is precisely where the political party leaders will be judged on again, namely whether they are on the side of the banks or whether they stand with society.