All banks will have to restructure the loans of those admitted to the programme in accordance with the rquirements set by the state.
Essentially, the PM’s team is entertaining the idea of small, manageable clashes with creditors that can be easily resolved with a minor governmental retreat.
Dimitris Tzanakopoulos said that lack of protection from foreclosure was a strategic choice of both New Democracy and Pasok because 'in the world of corrupt vested interests which they defend, the weak and vulnerable are not entitled to protection'.
As the painful negotiation with creditors on home foreclosure protection was going on, a minister who seems to ignore the realities came out and spoke of handing out a 250-euro Easter bonus
Citizens, businessmen, and the work force are not offered solutions to their problems because the government adopts opportunistic policies.
The two sides agreed that the maximum tax value of the protected property will be 250,000 euros and the maximum value of the remainder of a loan for which a home was used as collateral will be 130,000.
Under the terms of the revised plan, an estimated 250,000 homeowners and small business owners will qualify for protection.