The president of SYRIZA-PS Stefanos Kasselakis attended the enlarged meeting of the Finance sector of the Parliamentary Group, the Finance Department and the Financial Sector Department of the party, where the draft law entitled “Loans: Transparency, competition, protection of the vulnerable – Integration of Directive (EU) 2021/2167, re-introduction of the “HERAKLIS” program and other urgent provisions”, according to an information note.

As underlined in the said note, “SYRIZA-PS will proceed to vote against the principle of the bill as it walks on the tracks of the bankruptcy law brought by New Democracy and removes all protection of the first residence, it still does not protect the first residence, it does not take into account reasonable living expenses unlike what happens in other European countries and insists on a very restrictive definition of the vulnerable borrower and increases the risk of new burdens for the Greek taxpayer, as there is a risk that the guarantees will be written into the public debt”.

It is also noted that “loan contracts do not provide for the possibility of currency conversion, a fact that affects borrowers in another currency (e.g. Swiss franc) and no transparency is ensured on the part of servicers regarding interest rates, other details and, in general, the repayment algorithm of loans”.

At the same time, as it is emphasized, SYRIZA-PS “will request a roll-call vote on the whole and on specific articles”, “will re-submit the proposal for a law on the protection of the 1st residence, which falls under the content of the specific directive” and ” will request with ACP to submit the business plans of the portfolios that have joined the HERACLES scheme and have received the guarantee of the Greek state. Also the reports of the rating agencies that gave the credit rating in order to provide the guarantee of the Greek state”.

“For SYRIZA-PS and its president, economic issues such as accuracy, taxation, private debt and bad loans are of the highest priority. With tough opposition to the destructive policies of the Mitsotakis government, but also with elaborated and documented proposals, we will always be next to the citizens and their problems”, the information note concludes.