Cyprus Government will have to write off Cyprus Bank Debts
As the Informer anticipated the Cyprus Government will not be undertaking a major reform of title deeds or the law which allows developers to re-mortgage land on which houses have been sold without the issue of title.
This was announced in the Cyprus Press.
The writing is on the wall for all to see.
Property sales in Cyprus had already stalled because of the worldwide financial crisis and the long running saga of title deeds and mortgages which has been brought to the forefront of world news by the campaigning organisation CPAG (Cyprus Property Action Group).
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