Ministry of Finance: The decision of the Supreme Court on the funds confirms what the SYRIZA law provides


“In any case, the decision of the Supreme Court has not been published and no one knows its legal reasoning” is stated in the announcement of the Ministry of Finance

Responding to the comments of the opposition parties regarding the decision of the Plenary of the Supreme Court to unfreeze the auctions from the funds, the Ministry of Economy states in its announcement:

“With today’s announcements, the Opposition parties are quick to position themselves on the decision that, according to press reports, was taken by the Plenary Session of the Supreme Court regarding the possibility of servicers to initiate auction procedures for loans that have been transferred from banks.

A decision which, according to the same publications, was taken by the Supreme Court with a wide majority.

A decision which, according to the press, does not change anything in relation to what has been in force until today, but on the contrary confirms what the legislation passed under the SYRIZA Government (L.4354/2015) provides regarding the legalization of servicers companies to carry out judicial and extrajudicial actions on the claims transferred to them, including conducting an auction.

A SYRIZA government which:
▪ legislated the implementation of electronic auctions in May 2017,
▪ brought an amendment for ex officio prosecution and ex officio procedure for those who block electronic auctions in December 2017;
▪ repealed – horizontally – the protection of the 1st residence in February 2019,
▪ legislated an ineffective government subsidy program for the protection of the 1st home, without any application having been submitted;
▪ handed over to the Government of the New Democracy the private debt in an amount that exceeded 238 billion euros,
▪ handed over to the Government of the New Republic the “red” loans at the level of December 2014, i.e. approximately 43.5% of all loans,
▪ transferred the bank loans to the funds.

In any case, the decision of the Supreme Court has not been published and no one knows its legal rationale.

The Government of the New Republic deals with the issue of private debt with a sense of responsibility, rationality and social sensitivity.

It implements targeted initiatives and effective actions regarding this issue, taking into account the country’s international commitments and the limitations of the directives and regulations of the European Union and Community law.

Initiatives and actions, such as the implementation of the out-of-court debt settlement mechanism (L.4738/2020), through which more than 3,320 debtors have settled debts to the State and to financial institutions, totaling 1.08 billion euros, making particular tool the most successful of the last 12 years to deal with the issue, among those put in place by successive governments.

In comparison, in the previous out-of-court mechanism of the SYRIZA Government, only 2,200 debtors completed the debt settlement process.
At the same time, banks and debt service providers have made bilateral arrangements totaling 27 billion euros for non-performing loans of more than 590,000 borrowers.

Therefore, it is proven in practice that the Government handles the critical issues that plague our society consistently, methodically and responsibly.

It does not resort to groundless and utopian proclamations that offer no solution to the critical issue of private debt.

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