‘The new framework concerns loans up to 100,000 euros, consumer and repair, without collateral, to be concluded with banks from November 2026 onwards’, stressed Minister of Development Takis Theodorikos, referring to bill of the Ministry of Development on consumer credit.

As he stressed in an interview on SKAI television, Greece implements European legislation, but also goes on to "very serious steps below", aiming at more transparency, reliability and confidence in banking and citizen relations.

"We are setting a ceiling on the annual interest rate that may exist for such loans. The ceiling we set on how much the total burden can go is the lowest in the entire European Union," he said.

"It ends the fine print. We've all suffered them. We have all signed without having noticed in detail what is happening," he noted, adding that the bill establishes a clear framework for information on loan terms so that citizens know what they are signing and banks operate transparently and responsibly.

At the same time, he pointed out that rules also apply to abusive practices of pressure on consumers when they are invited to sign bids within a few minutes, explaining that there is a right to withdraw 14 days.

For the platform ‘PosoKanei’
Referring to the new digital application ‘PosoKanei’Theodorikos stressed: "Market transparency is good for consumers and all of us".

As he explained, the application helps the citizen to know, compare and choose: "When the citizen sees prices, he compares and chooses. Knowing what he does, he chooses the cheapest, he chooses what is good for him and makes competition companies more difficult.".

"It is an extremely useful tool, especially for the more dynamic ages, to make the markets they want, cheaper," he noted. At the same time, it highlighted the decisive role of the Independent Authority for Market Supervision and Consumer Protection in creating the platform.

Mr Theodorikos also referred to the margin of profit, stressing that this is an exceptional measure imposed by the government due to inflationary pressures from the Middle East war. "No one else in Europe has done it and never done it before by a Greek government," he said. He also stressed that the measure has effectively attributed to price restraint: "It would be three to four points on inflation in food and basic living species, if we hadn't".

Referring to the audits carried out by the Independent Authority, he noted that "the fines are normally collected" and stood at the fine of EUR 3 million imposed on a multinational company for violating the legislation. As he said, the Independent Authority was created "to not directly relate to the government, to the parties, but to do its work in a timeless manner and to protect consumers.".

Continuing, he noted that these measures contribute to addressing the problem, "without anyone claiming that the cost of living problem has been solved". The most critical, he explained, is "what we do to bring jobs and investments and to give better wages, especially to young people, and fewer taxes.".

In response to relevant reports by Mr. Tsipras on dealing with cartels, Mr.Theodorikos noted that "everyone is judged by what he has done with actions". He added that "to now say Mr. Tsipras that one night he will bring a law and abolish cartels, he has as much credibility as he had that he tore up the memos in 2015 and the country almost stubbled on the wall.".

Asked about the political climate and the possibility of elections, Mr Theodorikos pointed out that the country has entered an extended election period. "I see we have entered an extended campaign, because in a few days we enter the last year of the government. The marathon will last a year. We are marathon athletes," he said.

He stressed, however, that the presence of government officials in society should not be treated as an election activity, but as an obvious political obligation. "It is an obligation and very reasonable for a politician to be within society, to discuss, to listen to citizens' views, to project the work of the government," he stressed.

In closing, the Minister of Development called to seriousness and argument in the public debate, warning of a long period of toxic confrontation.

"Because this process will last long, we should all be very serious and with argument. Because if a year goes into a divisive, toxic confrontation, nothing will come out. Unfortunately, the opposition has no good reason, except for endless slander and scandalousness towards the government, which leads nowhere," he noted, stressing that the government will continue to present its work, improve constantly and be next to the citizens.