What’s included in the plan for borrower relief

 

But the difficult part, as it seems, will be to convince the Troika as well. The ministry of Development argues that "this setting will not cause serious economic damage and will not lead to the need for additional settings and aid for the capital adequacy of banks, but that does not mean it will not imply a certain cost for them."

 

In the coming days the government will attempt to prepare a common defense line with the Bank of Greece, which will undertake to elaborate further on issues relating to the new settlement of debts from loans, prior to its final judgment and approval by the Troika.

 

The settings are related to the payment of interest only for the next 4 years to borrowers who have lost 35% of their income for the last 3 years, have no income over 25,000 euros and their first home mortgage does not exceed 180,000 euros.