Greek Finance Minister Kostis Hatzidakis on Wednesday pledged that the government will soon table legislation to offer greater protection of borrowers from so-called loan servicing companies.
He made the statement after a meeting between ministry officials and representatives of the Hellenic Loan Servicers Association.
Among others, the ministry said a coming initiative aims to oblige loan servicers to provide individualized information to borrowers on their full debt, unpaid instalments, current interest rates and other related data. Fines will be imposed for failure to provide clear and timely information to borrowers with overdue debts.
On their part, representatives of the association cited a 30-percent improvement in the management of outstanding loans over the first months of 2023, compared to 2022.
The association pointed to an increase in revised payment plans agreed to by creditors and borrowers, and achieved by out-of-court arbitration. Specifically, between January and June 2023, 6,254 such out-of-court settlements reached, corresponding to 2.33 billion euros of initial debt.
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
Greek Retailers Remain Optimistic About Easter Shoppers’ Turnout
While stores are expected to be open on Sunday, April 28, the majority of Easter shoppers will likely do their shopping during the Holy Week, following the deposit of Easter bonuses
Europeche: Greek Apricot Production Recovers
Europeche forecasts the production will bounce back despite a slight decrease in varieties attributed to high winter temperatures
Bank of Greece (BoG): Business-Household Deposits Up 1,675bln in March 2024
In March 2024, the monthly net flow of credit to the general government was negative by 469 million euros
FT: Greece’s Economic Rebound a Balance of Growth and Poverty
Eurostat data revealed a significant 10.8% drop in Greek public debt relative to GDP in 2023, alongside a 2% economic expansion, outpacing Germany's performance.
Lavrio Port Authority Next Up for Privatization
A deadline for the submission of expressions of interest is May 14, 2024
Eurostat: Greece Records Largest Drop in Natural Gas Prices in 2nd Half of 2023
The price of electricity and natural gas in Europe was down following a substantial surge that began before the Russian invasion of Ukraine and peaked in 2022
GEK TERNA Still Considers Leveraging Concessions Portfolio as Financial Tool
President and CEO of Gek Terna George Peristeris explained the company's plans on Tuesday on the sidelines of the inauguration of sections of Greece's E65 highway
NielsenIQ: 3% Supermarket Revenue Increase in Q1
Private label products are gaining traction, comprising 25.4% of shopping basket shares, up from 24.7%
Store Hours Change Today in Observation of Orthodox Easter
The President of the Athens Chamber of Commerce hopes the Easter period will provide a much-needed boost to retail traffic in the capital
Athens-area Mass Transit Systems Set to Finally Install Contact-less Fare Payment
Paying fares via bank cards, smartphones and smartwatches in all mass transit systems in the Greek capital, namely, buses, trolleys, the metro and tram lines, is scheduled by the end of the year
