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GreeceTsipras presents SYRIZA plans to protect defaulted borrowers from losing their primary...

Tsipras presents SYRIZA plans to protect defaulted borrowers from losing their primary home

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SYRIZA-Progressive Alliance is prepared to protect primary homes of defaulted borrowers through the plans it has already made public as early as 2021, said party leader Alexis Tsipras in a speech focused on primary homes, offices, and farmlands at the Expo Center of the western suburb of Peristeri on Tuesday.

The proposal to deal with debt incurred during the coronavirus pandemic and later (April 2021), and the plan for a housing policy that protects families from losing their homes, that controls the activity of AirBnB and resolves the housing problems for young couples (July 2022), are the foundation of the main opposition’s plan to manage private debt and protect family homes, professional premises, and farmland, Tsipras said.

Tsipras said that his party, once it wins elections on May 21 and forms a progressive coalition government, will institute the following changes: create a deputy ministry at the Finance ministry that would focus on management of private debt and housing policy; introduce a public supervisory authority under the Finance ministry that would handle private debt; and set up a special fund for restructuring debts and for housing policy at the Development Bank, which will support financially defaulted borrowers and current debtors through targeted subsidies on their loans.

In addition, the main opposition leader said, a set of rules will be introduced for funds, based on transparency and justice, including requiring information and business plans to be tabled with the supervisory authority, imposing legal taxation on them, and restructuring their operational framework.

The main aim will be to manage nonperforming loans in a collective manner that would include institutional creditors – banks, credit companies, funds, the state, and social insurance funds, he said, adding that conditions for enrollment in the program would be simplefied and based on the inability to pay, along with an obligation for honest reporting in assets.

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Tsipras also disparaged the government for worsening the housing and debt issue, gambling away every Greek household’s available assets by “throwing them to the funds”, particularly after the Bankruptcy Code of 2020 (including individuals and businesses) “abolished across the board the protection of the primary home, leading to the opening of auctions the primary homes of working-class and middle-class levels.”

This way, he said, “a country in the core of Europe has become the Wild West,” as the way the government deals is with private debt is the motto “what is not paid, is confiscated,” especially through the funds, which are “only interested in quick auctions even for debts totaling a few thousand euros.”

“Greece is ruled by a government whose strategy is redistribution to the few and powerful, to funds, and to their friends who avoid paying their debts,” Tsipras said, asserting that “the victory of Syriza-PA on May 21 will open the way from the very next day to a progressive coalition government; we will not need to go to a second and third round of elections, as Mr. Mitsotakis plans.”

SOURCE; ANA-MPA

The copyrights for these articles are owned by the Hellenic News of America. They may not be redistributed without the permission of the owner. The opinions expressed by our authors do not necessarily reflect the opinions of the Hellenic News of America and its representatives.

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