ECB criticises government of Cyprus over new central banking legislation
Collection of information on individual debtors is a “government task”, ECB says
The European Central Bank has criticised a proposal by the government of Cyprus to give the country’s central bank responsibility for information on debtors.
The proposal is Cyprus’s response to a European Union regulation aiming at facilitating cross-border debt recovery, passed by the European parliament in 2014. The regulation obliges member states to choose one of several methods to make information on debtors available to legal authorities.
The Cypriot government proposes to make the
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