2014 will be a year of settings and not auctions

The new setting for the heavily indebted households is expected to give a big breather to Greek banks, as for each borrower that will pay even 10% of their monthly income, they will be able to release funds previously held as provisions for non-performing loans.

Speaking to reporters a banking source said that about 300,000 borrowers have mortgages in arrears at over 20 billion euros and that "they should come in tens of thousands to enter the setting."

“Every time a loan comes out from delay as the borrower will pay at least the minimum payment he so far failed to pay, the bank will release funds.” As for mortgages the predictions are ranging around 25% -30% of the loan’s value, it is estimated that banks could move about 6-7 billion euros for other purposes, such as to give loans or reduce their capital needs.

The same source said that apart from about 1 million unemployed and disadvantaged people who are excluded under the new law, all others must pay at least the monthly payment provided for by the setting (10% of their income at least). "Now we'll see who could pay and did not pay. It is a matter of justice for those who despite difficulties were paying but also for those who did not pay because they could not."