The Council of Ministers has decided to deposit part of the state`s available cash in the three Cypriot banks, namely the Bank of Cyprus, the Hellenic Bank and the Cooperative, with interest, a move characterised by Deputy Government Spokesman Victoras Papadopoulos as an action of support and trust towards the Cypriot banks, noting that so far the cash was deposited in the Central Bank with zero interest.
The cabinet also decided to create a central carrier for the housing of state services, and approved a bill to set up a joint carrier for the out of court settlement of financial disputes.
Speaking after the meeting on Wednesday, Papadopoulos said the aim of the bill was to broaden the authorities of the financial commissioner to include mediation procedures for the restructuring of credit facilities, providing a safety net for the main residence of viable debtors.
Regarding the housing of state services, Papadopoulos said the purpose of the carrier was to prepare and implement long-term strategic planning and policy with an aim to save money.
The carrier will prepare and keep a record of state assets and rented property, draft common state policy on housing issues, evaluate housing needs, compare cost and benefit in housing options, determine and monitor performance indices, and evaluate demands, inter alia.