G. Stathakis: The new Special Secretariat of Private Debt will have responsibilities on all issues

“There has to be a reduction in non-performing loans in the framework of the country’s course towards growth,” Economy Minister George Stathakis said on Friday, inaugurating the new premises of a Special Secretariat of Private Debt.

The minister said that a new legislation on NPLs, envisages a new code of ethics for banks, the creation of a secondary market for NPLs with strong rules of protecting borrowers and a stricter regulatory framework under the supervision of the Bank of Greece. “The last piece to complete this framework is a legislation on out-of-court compromise for enterprises, currently in its final stages,” the Economy minister said.

Stathakis said a new secretariat will have responsibilities on all issues related with the management of private debt, offering legal advisory services to borrowers, submitting proposals and legislative initiatives.
Alternate Finance Minister Tryfon Alexiadis, in his address, said that the new secretariat takes over a difficult task to the benefit of citizens and the economy.