Support Umbrella for Vulnerable Borrowers
A new support framework is being implemented in Greece to protect vulnerable borrowers from loans in Swiss francs and those under the Katseli Law, with particular attention to disabled individuals.
In Greece, a new initiative is being launched to support vulnerable borrowers facing difficulties with their loans, particularly those in Swiss francs and those covered under the Katseli Law. This support framework includes judicial decisions and state initiatives aimed at providing protection for households at risk. It emphasizes the importance of addressing chronic issues faced by borrowers, notably the burden of foreign currency loans, which have proved challenging due to fluctuating exchange rates.
Starting February 19, the platform for borrowers wishing to apply for favorable terms under the law for Swiss franc loans will be available. This program allows borrowers a six-month window to evaluate and opt into these beneficial arrangements, which will aim to alleviate the financial stress associated with these loans. The introduction of this scheme is a significant step in the effort to tackle longstanding issues regarding debt management in Greece and shows a dedicated approach from the state to support vulnerable citizens.
Particular attention is given to people with disabilities (AMEA), ensuring that they receive the necessary consideration and support within this framework. The comprehensive nature of the measures indicates the government's commitment to creating a safety net for those most affected by economic instability and financial insecurity, thereby enhancing social equity and economic stability within the country.