Greek banks ready to agree on a new home protection scheme

Hellenic Bank Association is ready to agree with the government on a new framework to protect first home that will not create any side-effects, Nikos Karamouzis, president of the association said on Monday.

Speaking to reporters, Karamouzis said that non-performing loans are a big challenge for the society, the economy and banks have committed to an ambitious programme of NPL reduction by 2021. He added that home protection should cover lower incomes that will be able to meet their obligations with the support of the state and noted that an existing legislation has frozen borrowers’ obligations worth 18 billion euros.

Theodore Fessas, president of the Federation of Hellenic Enterprises (SEV), speaking to reporters, said that: “The economy progresses when production is strengthened and unjustified funds are not offered”.