Measures to protect vulnerable borrowers, increase transparency in how borrowers are informed by servicers and enhancing competition within the banking system are included in the draft law of the Ministry of National Economy and Finance, which was unveiled for public consultation on Wednesday and will be posted online until Wednesday, November 22. (http://www.opengov .gr/minfin/?p=1209)
More specifically, the draft law consists of eight measures.
The Minister of National Economy and Finance Kostis Hatzidakis, said: “The Greek economy is steadily passing important milestones, having received a positive credit evaluation from internationally prestigious rating agencies. Achieving investment grade boosts growth and facilitates investment by creating new jobs. Indeed, our economy is on an path of growth and fiscal seriousness. There remain, however, chronic pathologies that prohibit further growth and economic progress. Already, in the previous four years, important steps were taken to deal with private debt arrears. Today, with key interventions through the bill that was put to public consultation, we aim for the holistic, definitive and substantial management of private debt by shielding the truly vulnerable debtors while strengthening competition in the banking system.”
SOURCE; ANA-MPA
