OctaFX | OctaFX Forex Broker
Open trading account
Back

Troika awaiting Cypriot foreclosure law details

FXStreet (Łódź) - EU officials informed on Monday that the Troika hasn't received the new Cypriot bill adopted on Saturday, speeding up foreclosures on business loans and mortgages and aimed at making way for the release on the next, 10 billion euro tranche of bailout money.

The controversial bill allows financial institutions to seize delinquent borrowers' properties already after two years, and not after 15 years as it is currently established.

The EU stressed that the disbursement of aid, which could be approved at the Eurogroup meeting on Friday, couldn't be done without the details of the foreclosure law.

The Irish and Greek bailout proceedings are also to be discussed during the Eurogroup meeting.

EUR/GBP probable spike to 0.8033/36 – Commerzbank

In the opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, he cross could re-visit the area around 0.8030/40...
Read more Previous

Pound sees no relief - FXStreet

FXStreet Chief Analyst Valeria Bednarik observes that following the release of the poll on the Scottish independence referendum results, showing 51% votes in favor, GBP/USD is breaking through an early interbank low of 1.6150.
Read more Next
Start livechat