Four bank bills delayed as Cyprus faces EU infringement proceedings

The government submitted a package of four banking bills to Parliament in early July. The move came seven months after the EU’s deadline for Cyprus to align with the European Banking Directive, and four months after the European Commission sent a formal warning letter.

Given the lengthy delay in bringing the four bills before Parliament, the government urged MPs to examine them as a priority. The package now looks set to be debated only in September, since Parliament adjourned yesterday for...