Syprodat flags pressure on borrowers, calls for fairer banking balance

The Cyprus Borrowers Association, known as Syprodat, on Wednesday called for decisive intervention to ensure interest rate cuts are passed on more fairly to borrowers, while urging stronger safeguards against foreclosures and a better balance between bank profits and social responsibility.

In a statement signed by its president, Costas Melas, the association said recent economic data point to a clear disconnect: despite relative economic stabilisation and easing European pressure on interest rates...