PASOK’s parliamentary representative Michalis Katrinis brings up the issue of the protection of borrowers in Swiss francs with a question submitted to the Parliament.

In a related question submitted to the Ministers of Economy & Finance and Justice, Mr. Katrinis emphasizes that the deterioration of the exchange rate has led to a dead end for this particular category of borrowers, since they are burdened excessively in terms of repayment installments.

Referring to the European experience, regarding the management of this particular problem, he points out that borrowers from European countries appealed to their national courts, challenging as abusive and opaque the terms of the contract by which they assumed the burden of the exchange risk and, in the great majority, were vindicated by court decisions.

In fact, in several countries, such as Poland and Hungary, in order to deal with this major social problem, legislative initiatives were taken by the governments to relieve borrowers. Recently, BNP Paribas in France, recognizing the injustice against these borrowers, came to an agreement with them, through the consumer organization that represented them, in order to compensate them.

“However, in Greece, the Plenary Session of the Supreme Court ruled that the condition by which the currency risk is imposed on the borrower is not controlled. Nor, in fact, for its opacity, when it is not accompanied by clear information about the consequences that its application may have. The Plenary was led to its judgment without addressing, as other national courts did and as it should have done, pre-trial questions on the critical issues of the case to the Court of the European Union. The tens of thousands of Swiss franc borrowers feel justified that they were not treated as equal European citizens,” says Mr. Katrinis.

The PASOK parliamentary representative also recalled the amendment submitted by PASOK to protect Swiss franc borrowers.

Michalis Katrinis asks the government:

First, to take a legislative initiative, as other countries have done, and to accept the amendment tabled by PASOK for the fair distribution of exchange risk, so that these borrowers, without the agony of long-term litigation, can get out of the tragic economic and social impasse they have been driven to.

Secondly, to take the initiative in order for the credit institutions in our country to carry out negotiations similar to those of BNP PARIBAS with the consumer organizations that represent the borrowers, so that a substantial solution to the problem can be found.
”The problem concerns 85,000 families. The government cannot do what it does not see and be indifferent” emphasizes Michalis Katrinis.