As a very important bill, which removes obstacles, reinforces social cohesion, removes waterproof and releases opportunities for individuals, families, businesses of Greek society and the Greek economy, described the bill to strengthen capital market, the Minister of Economy and Finance, Kyriakos.

Describing the arrangement for the out -of -court settlement, a “superpower” for the middle class, the social cohesion and the economy, Mr. Pierrakakis also made a special reference to the provisions “which give the mark on what it means to give your hand” and concern::

  • the resignation of the State from remedies within Mandra and Eye,
  • the suspension of criminal prosecutions for citizens with regulated debts, and
  • the ability to regulate legal entities their debts to the State and to the insurance bodies.

Adjustment for Eye and Pandra

Regarding the arrangement by which the State resigns the remedies for the damages of the affected Mandra floods and the fire in Mati, Mr Pierrakakis explained that “ad hoc” legislation was required as a lasting means, since its law and law enforcement.

However, the minister stressed that “the state cannot exhaust its rigor in national tragedies” and appears “unexplained” – a characterization it accepts for such cases, as he said – so he called on the parties to look for a more systematic way so that no more systematic ways are needed.

Debt Settings – Pause persecution

Concerning the provision on the basis of which the criminal proceedings of citizens with regulated debts are suspended, the minister noted that it was “an injection of common sense”, since the “absurdity” of years now ceases to be prosecuted by the State a citizen, even though he has made a debt settlement.

In addition, another provision gives a second opportunity to settle debt to the State and to insurance bodies for legal entities who had not been included in the previous out -of -court and failed to observe their doses. They can apply within two months of the law.

Out -of -court settlement

For the arrangement concerning the “out -of -court settlement”, Mr Pierrakakis said that the characterization of a “superpower” emerges from the fact that the income criteria almost double. The prerequisite for doubling the boundaries is that the debtor has a limit of non -performing bank debts of EUR 300,000.

It also establishes the obligation of the creditor to submit a written proposal to the debtor, three months before the auction,

Furthermore, if the debtor’s property is not sufficient to open the bankruptcy procedure, then it is registered in the Solvency Registry, and in this context, the ability of the rapporteur to issue an act of rendecered the release of the exemption, which is also expanded.

In addition, vulnerable borrowers are facilitated to save their home, even 20 days before it divested, through their integration into the intermediate program. To date, in order for the debtor to join the interim program, he had to apply within 60 days before the seizure, resulting in many losing the deadlines. This is now changing, since the vulnerable debtor will be able to apply at least 20 days before the auction.

The extension also applies in the case of a debtor chooses to settle his debts through the process of resolution, that is, the ability to regulate loan guarantees by the Greek State, with the possibilities of write -offs and the expansion of repayment time, with the aim of helping businesses that are usually higher,

In addition, a permanent mechanism of compensation is created by the “Aspis Providence” injured.

At this point, the Minister of Finance said there would be a great acceleration to “keep a change in relation to the previous regime of the out -of -court settlement, by the fact that the eligible debtors are twelve, as we go to 85% of the total applicants”.

Capital market

In terms of the provisions on the enhancement of the capital market, these include: Tax and other incentives to enhance the substantive operation and reliability of the stock market, encourage demand and importing companies in it, institutional shielding of the Hellenic Committee, Capital Institutions, To protect investors, relevant instructions are incorporated and measures on the capital market and the financial sector to comply with Union law are established. Finally, Mr Pierrakakis referred to a number of other measures, such as misteryshoping, which – as he said – are very interesting “compared to how we really increase transparency in the market and reduce with bureaucracy”.

Invitation to parties for dialogue

In the context of “the logic of the government to regulate every day and a matter for the improvement of citizens’ lives”, the Minister of Economy called on the parties to dialogue and systematic work, and explicitly stated that he was interested in hearing all the views and adopting every good idea, wherever he comes from.

“We know there are simple and everyday issues that are not color, unnecessary bureaucrats, are injections of common sense and we want to make too many such small changes“He said and” suggested “to the opposition not to have two measures and two weights: on the one hand, to submit amendments and on the other to blame the government when it comes to amendment.

After saying that the opposition has submitted “interesting” proposals, which would be seriously addressed, he reiterated that for the reset of the 13th and 14th salaries, which costs a total of $ 7.8 billion (along with the contributions to the expenditure target) there is no financial opportunity to be implemented. “We operate within the framework and the fiscal rules of the European Union. This is not going to be violated because the country will not re -enter the red itself,” the finance minister said.

‘We prioritize the needs of social groups’

Mr Pierrakakis added that the government is prioritizing the social groups that need it and thinks how this prioritization will be made with national, social and development terms and added to the body: “You will see that we will do it, but build it on its nationals.”

He further explained that other opposition proposals “hit” European regulations and therefore it is not possible to implement, and “beating Hercules”, which was a tool that worked catalytically to reduce private debt in Greece.