Mitsotakis to Greek bankers: Give conscientious borrowers cuts on their mortgage interest rates
Main opposition New Democracy (ND) leader Kyriakos Mitsotakis on Monday called on Greece’s four systemic banks to include specific reward measures for conscientious borrowers in any new package aimed to reduce the Olympus-sized “mountain” of “bad debt” burdening their balance sheets.
His unprecedented proposal, by Greek standards, came during a meeting with the heads of the country’s systemic banks (National, Eurobank, Piraeus and Alpha) and the leadership of the Hellenic Bank Association (HBA).
The meeting comes after an agreement, in principle, last week between the leftist Tsipras government and the four lenders to establish a new legal framework to protect private residences from creditors, as the current framework expires at the end of this month.
“We fully acknowledge the need for a framework of protection to exist for those (borrowers) that are truly in need, but we also want to discuss with you, how and in what manner to reward the borrowers, who amid the crisis and with great pain, were able to remain consistent vis-a-vis their obligations towards banks,” he said.
His proposal to banks’ CEOs was for a reasonable reduction of the interest rate on mortgages held by dependable lenders, with the framework of criteria to agreed to by the government and the HBA.
You may be interested
JOKER results: 19/09/2019Panos - Sep 19, 2019
The winning numbers from the JOKER draw are as follows:
Total, ExxonMobil, Repsol & ELPE in Crete and the Ionian Seamakis - Sep 19, 2019
Four bills ratifying a number of leases for the concession of exploration and exploitation of hydrocarbons in four maritime areas…
EU order for Apple to pay €13bn tax bill to Ireland “defies reality and common sense”Panos - Sep 19, 2019
The European Union’s order for Apple to pay €13bn in back taxes to Ireland “defies reality and common sense”, the…