The Ministry of Economic Affairs and Finance breathes three more months to the holders of loans in a Swiss franc, extending until 30 September the possibility of joining the new regulation. The increased participation of borrowers, already above 14,000 applications, led to the decision to extend the procedure in order to take advantage of the benefits provided for in the new framework.

The decision was announced by Minister of National Economy and Finance Kyriakos Pierrakakis speaking on radio "Parapolitans", noting that the response of the citizens confirms that the regulation responds to a chronic problem that employs thousands of households. As he said, interest in regulating the Swiss franc and also in the extrajudicial mechanism remains particularly high, as interventions were designed based on the actual needs of borrowers.

The arrangement concerns serviced or already regulated loans to a Swiss franc and provides for conversion into euro at a more favourable rate, a fixed interest rate for the entire repayment period and an extension of up to five years. The aim is to significantly limit the monthly dose and restore part of the burden caused by the change in the rate in previous years.

For the relevant borrowers they are provided three categories of aid. The first concerns those who meet specific income, assets and deposit criteria and ensures a 30% rate haircut and a 2.50% interest rate. The second provides for a 20% haircut and a 2.70% interest rate, while for those who do not belong to the previous two categories an improved rate of 15% is foreseen and a 2.90% interest rate.

Even greater are the benefits for financially vulnerable borrowers. For this category a rate haircut is provided that can be reached up to 50%, at an interest rate of 2.30%, which significantly reduces both the amount of the debt and the monthly charge.

Non-performing loans are not part of this scheme and continue to be treated through the extrajudicial mechanism, which is the key instrument of regulation for debtors experiencing difficulties in serving their loan obligations.

At the same time, the Minister of Finance announced interventions in the bill in the House, with improvements in provisions on attracting investment funds in Greece, as well as extending tax incentives for certain categories of hybrid vehicles.

In particular, additional incentives are being considered for the Investment funds wishing to transfer some of their activities to the country, provided that their economic activity exceeds certain limits. At the same time, the current discount scheme for certain categories of plug-in hybrid cars is extended for another six months.

In the field of housing policy, Mr Pierrakakis announced that in the autumn it was expected that the Real Estate Acquisition and Releasing Institution for vulnerable debtors. According to the information presented, the tendering procedure has been completed and the evaluation of the proposals is already under way.

Referring to the recent decision of the Supreme Court on loans to Katseli law, It made it clear that the decision would be implemented normally, but noting that the competent authorities are examining the technical implementation procedures due to the wide variety of cases in practice.