The “breathing room” provision for loans under the Katseli Law has been passed.<\/p>\n
With a measure bearing the stamp of Prime Minister Kyriakos Mitsotakis<\/b> and implemented by the Minister of National Economy and Finance Kyriakos Pierrakakis<\/b>, the government has provided a definitive solution to one of the most complex outstanding issues of the crisis period. <\/p>\n
The loan relief provision under the Katseli Law was passed by Parliament<\/b> and is expected to benefit more than 100,000-120,000 borrowers<\/b>, reducing monthly payments in many cases by as much as 300 euros, while also providing for retroactive reimbursement of amounts paid in previous years. The government delivered a direct response to the opposition with one of the most significant measures in recent years regarding private debt.<\/b><\/p>\n
Speaking from the floor of Parliament, Minister of National Economy and Finance Kyriakos Pierrakakis defending the new loan regulation under the Katseli Law, to highlight its political dimension as well, arguing that the government is resolving a problem that had remained unresolved for sixteen years.<\/p>\n
\u201cSome saw the borrowers\u2019 distress as an opportunity for political exploitation. We saw an obligation of political responsibility,\u201d<\/b> he noted, highlighting the nature of the confrontation that dominated the debate. This statement was a direct response to the allegations and political confrontations; the answer lies in concrete solutions with measurable results for citizens.<\/p>\n
Kyriakos Pierrakakis argued that the government chose not to postpone the issue yet again and not to hide behind legal interpretations or court rulings. <\/b>Instead, it proceeded with a comprehensive legislative measure covering all borrowers with active repayment plans, without new legal disputes, without new appeals, and without additional hardship.<\/p>\n
In his statement, the minister also strongly criticized PASOK and SYRIZA, arguing that the framework they created led to uncertainty and long-standing unresolved issues. He pointed out that nearly half of the applications filed under the Katseli Law were ultimately rejected by the courts, a fact which, according to him, demonstrates the system\u2019s weaknesses.<\/b><\/p>\n
The Maximos Mansion considers this legislative initiative to be yet another demonstration of the government\u2019s economic strategy. A strategy that combines fiscal stability with interventions that have a direct social impact. It is no coincidence that the loan relief provisions of the Katseli Law were included in a broader package of measures that includes interventions regarding private debt, an out-of-court mechanism, and support for families, retirees, and renters.<\/p>\n
The new provision affects more than 100,000 borrowers, who are expected to see significant relief from their obligations. According to the minister\u2019s presentation to Parliament, in many cases the reduction in the monthly payment could be as high as 300 euros. For thousands of families who have been burdened by debt for years, this change creates a new financial reality and increases their disposable income. <\/p>\n
A key element of the regulation is the new method for calculating interest, which brings it into line with the case law of the Supreme Court. However, the government decided to go beyond the provisions of the court ruling.<\/p>\n
The most significant feature of the measure is its retroactivity, as the additional amounts paid by borrowers in previous years will now be calculated as principal repayment. <\/b> <\/p>\n
This reduces the outstanding loan balance and shortens the repayment period. This decision carries particular political significance, as the government was not obligated to adopt it. <\/b>It could have applied the new regime only to future payments. Instead, it chose to include those who have remained consistent over the years, recognizing that they are entitled to meaningful redress.<\/p>\n
The total cost of the intervention is estimated at approximately 700 million euros<\/b>. Of this amount, 500 million euros are earmarked for future debt relief for borrowers, while approximately 200 million euros are linked to the retroactive recognition of amounts already paid. This is one of the largest relief packages implemented in recent years in the area of private debt.<\/p>\n
For thousands of households, the passage of this legislation is not merely a technical change in how loan obligations are calculated<\/b>. It provides real financial relief after years of uncertainty. And politically, it is a move that allows the government to claim it has settled yet another difficult issue from the era of the memoranda, turning a decades-long unresolved issue into a tangible solution for more than 100,000 citizens.<\/p>\n","protected":false},"excerpt":{"rendered":"
The \u201coxygen\u201d relief measure for loans under the Katseli Law has been passed.
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