{"id":10149,"date":"2026-06-11T11:35:00","date_gmt":"2026-06-11T08:35:00","guid":{"rendered":"https:\/\/en.tomanifesto.gr\/?p=10149"},"modified":"2026-06-11T11:35:00","modified_gmt":"2026-06-11T08:35:00","slug":"costas-bakoyannis-duke-puts-athens-on-a-trajectory-of-memoranda-video","status":"publish","type":"post","link":"https:\/\/en.tomanifesto.gr\/?p=10149","title":{"rendered":"Costas Bakoyannis: Duke puts Athens on a trajectory of memoranda (video)"},"content":{"rendered":"

The Municipality of Athens is entering a trajectory of memoranda, as the “Athens Tall”<\/b> faction of Kostas Bakoyannis warns.<\/p>\n

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”.<\/b><\/p>\n

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.”<\/p>\n

In essence, as the head of the “Athens Tall” faction, Kostas Bakoyannis, argued, the administration of the Charis Doukas<\/b> is essentially asking for a white cheque for 75 million euros<\/b>, without documentation and, above all, without having explained why it has not first used the financial tools it already has.”<\/p>\n

“The three-year loan<\/b> 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<\/b>,” the statement added.<\/p>\n

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The post was shared by Kostas Bakoyannis (@kostasbakoyannis)<\/p>\n<\/div>\n<\/blockquote><\/div>\n<\/figure>\n

Costas Bakoyannis told yesterday’s city council that the municipality’s administration, “instead of explaining why the available European resources remain unused, it is asking Athens to take on new borrowing greater than its current debt<\/b>“. He stressed that “the current administration is using the upgrading of schools as a pretext to justify over-borrowing that could have been avoided. When you already have European funds available, when you have alternative financial instruments at your disposal and when you have not explained why you have not used them, then the problem is not a lack of money. The problem is the failure of management. And when administrative weakness turns into new debt for the city, then we’re not talking about a growth loan. We’re talking about a loan for political survival<\/b>.”<\/p>\n

In fact, he pointed out, “the discussion of new borrowing is taking place while the city’s key financial indicators are deteriorating alarmingly. Revenues are shrinking, cash reserves are declining, investments are falling, while operating expenses keep rising.<\/p>\n

The question is clear and pressing: is the \u20ac75 million really for schools or is it being pumped in to cover up Mr Duke’s incompetence, administrative inefficiency and endless political ambitions? And why should the citizens of Athens foot the bill?”<\/b><\/p>\n

Closing his statement, Kostas Bakoyannis warned: “Mr Dukas is creating the conditions for a future fiscal crisis and putting Athens on a trajectory of memoranda. <\/b>Athenians will be asked to cover the costs, either with increases in municipal fees or with fewer services or with new borrowing. There is no fourth option. Athens needs a plan. No blank cheques. No blind borrowing.”<\/p>\n

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The Municipality of Athens is entering the orbit of memoranda, as warned by Kostas Bakoyannis’ faction “Athens Tall”.
\nIn continuation of the intense …<\/p>\n","protected":false},"author":1,"featured_media":10150,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3],"tags":[],"class_list":["post-10149","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-politics"],"acf":[],"_links":{"self":[{"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/posts\/10149","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10149"}],"version-history":[{"count":0,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/posts\/10149\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/media\/10150"}],"wp:attachment":[{"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10149"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10149"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10149"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}