The Municipality of Athens is entering a trajectory of memoranda, as the “Athens Tall” faction of Kostas Bakoyannis warns.
Following the intense opposition reactions to the municipal council’s proposal at yesterday’s meeting and the voting for a loan application of the Municipality of Athens, amounting to 75 million euros from the European Investment Bank, under the pretext of projects in the city’s schools, the faction of Kostas Bakoyannis, “Athens Tall”, issued a statement entitled “In the orbit of memoranda the Municipality of Athens, the bill to the citizens”.
As the faction notes, “strong reactions and serious questions are caused by the sudden decision of the municipal authority to proceed to the conclusion loan of 75 million euros from the European Investment Bank under the pretext of upgrading the school infrastructure of Athens.”
In essence, as the head of the “Athens Tall” faction, Kostas Bakoyannis, argued, the administration of the Charis Doukas is essentially asking for a white cheque for 75 million euros, without documentation and, above all, without having explained why it has not first used the financial tools it already has.”
“The three-year loan is larger than the total of the current outstanding debt of the municipality of Athens, which amounts to about 65 million euros. With a single decision, the city’s total borrowing more than doubles, creating a new financial obligation that Athenians will bear until 2046.It is recalled that the previous municipal authority invested, without borrowing, more than 57 million euros in the school infrastructure of Athens, delivering mature projects, active contracts and available financial instruments including the approximately 14 million euros of European funds, which the municipality keeps unused within its coffers,” the statement added.
