The proposals of SYRIZA-Progressive Alliance for the management of private debt, which has been steadily increasing in recent years, without the government of N.D. to take effective measures to deal with it, but also the critical issue of the roof, Nikos Pappas is expected to present to the productive bodies of Northern Greece on Saturday, but also throughout his visit to TIF.
The president of K.O. of SYRIZA-Progressive Alliance is expected to declare that the relevant proposals, as prepared by the working groups of the Political Secretariat (p.s.: the one on private debt operated under the responsibility of N. Pappas, as head of Finance, Economy and Development) , will bring to the center of the public debate two of the most critical issues of everyday life, as they concern households and small and medium-sized enterprises. It will also invite progressive forces to join forces in supporting the proposals, laying the foundations for progressive programmatic (and later, electoral) cooperation.
Private debt
N. Pappas will present data on the total private debt (of households and businesses), which has increased by more than 10% since 2019. And he will list the proposals of SYRIZA-Progressive Alliance, which are as follows:
I. FOR THE EXTRAJUDICIAL DEBT SETTLEMENT MECHANISM
Establishment of mandatory acceptance of the arrangement by servicers and funds as a minimum for vulnerable debtors.
II. PROTECTION OF VULNERABLE BORROWERS
Increase of the income criteria, calculating reasonable living expenses as determined by the official indicators of the Hellenic Statistical Authority (ELSTAT), increased at least by a percentage of at least 50%.
III. PROTECTION OF THE FIRST RESIDENCE
Defining criteria for the possibility of gradual debt cancellation, at least for borrowers who have fallen into a long period of vulnerability, without this automatically implying the liquidation of their main residence.
IV. BANKRUPTCY LAW
Repeal of law 4738/2020 and its replacement by the new bankruptcy law which will prioritize the option of debt restructuring over liquidation which is the current option. Possibility also for natural persons without bankruptcy capacity to be automatically exempted after three years have passed from the point of time defined as the starting point by the declaration of bankruptcy
V. HERACLES GUARANTEE SCHEME LAW
Changes to Law 4649/2019 in the direction of the transparency and accountability of the Ministry of Finance, the Ministry of Finance, the Ministry of Finance, the Ministry of Finance, the Ministry of Finance, the Ministry of Finance, the Parliamentary Audit, the determination of regular re-evaluations of the business plans of securitization companies
Roof
On the issue of the roof, the president of K.O. of the SYRIZA-Progressive Alliance will refer to the increase in rents over the last five years (+50%), that one in two Greeks in 2023 had overdue debts on their housing costs (mortgage or rent, utility bills or rents), when corresponding M.O. of the EU is 9.2%, in that Greece belongs to the last level of the EU. in the housing policy, spending only 0.3% of its GDP on housing (half of the European M.O.), in the inability of the out-of-court to solve the issue, resulting in real estate auctions with the main loss being the first residence.
“Our programmatic commitments include, among others, the creation of the Deputy Ministry of Housing Policy, the reconstitution of the OEK, the prevention of auctions and the protection of the first residence, the increase of the rent subsidy, programs for the creation of public social housing, the elimination of homelessness, covering the housing needs of students & civil servants in stressed areas, etc.”, N. Pappas is expected to say, specifying the party’s proposals. According to SYRIZA-Progressive Alliance sources, the party’s plan for the roof has the following characteristics:
1. It does not trigger demand, but increases the availability of real estate.
2. It enables families (who meet the conditions) to get a loan to own their own home, with the government guaranteeing the same participation.
3. It gives substance to the term social housing, making use of undeveloped public properties without involving business interests.
4. It provides a solution for students, creating thousands of students
5. It provides a solution to the housing issue for public officials in areas with strong tourist dynamics.
6. It supports young families with the aim of solving the demographic problem.
7. It rewards the consistent borrower for the first time, while responding with a realistic solution to bad loans.
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