Economy · Greece

Stournaras: Necessary Regulation for Katseli Law Loans

4 sourcesFirst reported 25 days agoUpdated 25 days ago

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Greek Central Bank Governor Stournaras supports legislative changes for Katseli law loans.
The regulation clarifies uncertainties post-Supreme Court decision for borrowers.
It affects around 100,000 borrowers with reduced monthly payments and interest rates.
Borrowers can benefit from retrospective application of the new interest calculation method.
The regulation may impact the Hercules guarantee program due to lower future revenues.

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Yannis Stournaras, the Governor of the Bank of Greece, emphasized the necessity of legislative reform concerning the Law of Katseli, which impacts around 100,000 borrowers who have previously utilized this legal framework. He expressed strong support for the government’s legislative intervention aimed at implementing a universal application of a recent ruling by the Supreme Court related to these loans.

The proposed regulation is designed to provide clarity and stability for debtors under the Law of Katseli, which has been a critical legal avenue for those facing financial difficulties. Stournaras referred to the reform as a “vote of confidence” in the government’s efforts to ensure fair treatment for debtors and to maintain the integrity of the banking system amid the ongoing economic challenges.

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Stournaras: Necessary Regulation for Katseli Law Loans

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