of DORA ANTONIOU

The revelation of the interventions planned by the government for the banks is a matter of days, while the issue has moved to the center of the political confrontation with the main opposition. The announcement of the government’s plans has been announced to be made by the prime minister, in the context of the debate on the budget. Despite the double pressure being exerted on the banking sector, there is so far no indication of an initiative by the banks themselves in the direction of the interventions being discussed. At the highest possible level the government has expressed its displeasure. “There are issues regarding the operation of the banking system that need to be addressed, such as high commissions, low interest rates on deposits, housing loans, which are not given at the best rate, but also properties that have not yet been sold in order to enter in the market. We have asked the banks to react, we have not been satisfied with their reaction and very soon you can expect interventions from the government, which will deal with the specific problems”, said the Prime Minister a few days before the floor of the Parliament. Kyriakos Mitsotakis.

At the level of political manipulations, a brawl is underway between the government and PASOK. Indicative of the importance that both sides give to the issue but, obviously, also of the great interest that exists on the part of the citizens, is the fact that the issue of banks dominates ahead of the debate on the budget that begins today in Parliamentwithout being directly related to it.

The official opposition party has tabled two amendments: the first concerns the taxation of bank profits and the second came yesterday and concerns the setting of lending rates and the abolition of some fees and charges. On the part of Harilaou Trikoupi, they are investing in this specific issue, as bank charges for a series of daily transactions cause discomfort and inconvenience to citizens. Thus, the official opposition rushes to take advantage of the climate to appear to be ahead of the government by proposing specific interventions.

The Ministry of Finance questioned the possibility of legislative intervention based on his amendment PASOK and the government as a whole refers to its own moves on the matter. The information adds up to a tripartite set of interventions aimed at reducing charges and correcting the very low deposit rates, and at increasing mortgage and business loans and putting real estate on the market from the banks’ portfolios. An increase in ENFIA on real estate owned by banks and a reduction in fees for money transfers and other transactions are among the measures expected.

It is a given, however, that with the extent the discussion has taken, high expectations have been cultivated, which increase the pressure for substantial initiatives and not impressive moves.