The first political reactions over last evening’s announcement of an agreement between the Tsipras government and Greece’s systemic banks, aimed to establish a new legal framework protecting primary residences from creditors, came early on Friday morning.
Main opposition New Democracy (ND) party vice-president and long-time minister Costis Hatzidakis said the ostensible agreement, which hasn’t been officially released, actually curbs protection for primary residences linked to non-performing mortgages as guarantees/collateral.
Hatzidakis said the proposed new framework includes a series of conditions that aim to reduce the number of eligible owners seeking protection for their primary residences from creditors, mainly banks proceeding with foreclosures and property auctions.
Speaking during a drive-time radio program on Skai radio, the ND cadre cited the example of an unmarried borrower with a residence valued at 150,000 euros, but with an annual income of 13,000. Given that a proposed annual income criteria – based on reports circulated the previous evening – envisions eligibility for single property owners under 12,500, he said this homeowner will not be eligible.
Additionally, he charged that property owners that have sought protection under the current legal framework, the so-called “Katselis law”, must file new applications and pass another evaluation.
The current framework expires at the end of the month.
