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The Troika of international lenders will simplify procedures for the disbursement of the sixth tranche of the financial assistance package, estimated at 436 mln euros, after the authorities failed to meet the preconditions for the next disbursement by passing a new bill on foreclosures.
However, parliament approved a watered-down bill along with a series of amendments which were deemed by the Troika as non-compliant with the bailout programme’s requirements. As a result, the next disbursement was dropped from the agenda of the Eurogroup meeting in Milan last Friday.
Under the normal procedure the Eurogroup would have to convene and authorise the European Stability Mechanism to approve the disbursement of the next tranche, whereas in this case a Eurogroup meeting will not be necessary.
The compliance with the programme requirements hinges upon the result of the Supreme Court which will convene to assess whether four bills approved by the parliament and referred by President Anastasiades comply with the constitution. The Supreme Court will convene on October 20.
Meanwhile, the parliament is expected to convene to debate two bills referred by the President. In case the parliament approves the bills once more, the President will have to sign the bills into law or refer them to the Supreme Court to decide on the dispute.
The Supreme Court on Tuesday issued a timetable of the process to be followed including the submission of written arguments from both sides. Counsel for the House of Representatives will have to submit their objections to the referrals by September 26. Attorney General Costas Clerides will have to submit his written arguments on October 3 and counsel for the House again on October 13. Clerides is then entitled to submit his written response on October 17.
Announcing the October 20 hearing, Supreme Court President Myronas Nicolatos said that the Court will conclude the review of all four referrals on that day and will reserve its opinion.
At the same time, the Attorney General noted that serious legal, constitutional and state matters have been raised for the review of which a certain amount of time will be necessary. In his referrals to the Supreme Court, he said, the President raises eight different constitutional violations.
During the hearing, one of the three legal counsel for the House of Representatives, Christos Clerides, referred to the eight points, which as he said have to do with the right to property, the freedom to practice a profession, the right to enter into a contract, equality before the law, access to justice, separation of powers, the right for the other side to be heard and when a law can be put into effect.