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Athens Macedonian News Agency: News in English, 14-11-03

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <>


  • [01] Outgoing Dev't min tables bad loans amendment

  • [01] Outgoing Dev't min tables bad loans amendment

    Outgoing Development Minister Nikos Dendias on Monday tabled an amendment on bad business loans. The amendment was attached to a Justice Ministry bill, which is being discussed at the relevant parliamentary committee and, as the minister said, was the result of the hard work with the social partners, the Hellenic Bank Association, the lenders and the ECB so as to exhaust the possibilities of the system and the economy and "succeed in the restart of the Greek market."

    Dendias told the deputies that the amendment "was an effort to relieve the debt of professionals and businesses, first of all to the lenders" and was linked to the measure that the Parliament passed a few days ago for the repayment of arrears to the State and the social insurance funds in installments.

    He explained the amendment followed the system implemented on arrears to the State and the insurance funds which means that any future improvement in the installments system would result in a similar change in this amendment.

    The minister also referred to the Article on the operation of the Institute for Growth, to which funds from the European Investment Bank, Germany, France, the Onassis Foundation and the Greek budget have been offered and which the government believes it is a very important tool in the efforts to relieve the professionals and businesses and help them exit the crisis.

    He acknowledged that the amendment, under the Parliament's standing orders, cannot be discussed in the parliamentary committee; he clarified, however, that he tabled it on Monday so that the political parties and deputies can have the time to study it until its debate in the Plenary.

    "I hopeā€¦that we will have a concession much wider than the governmental majority one," he said and welcomed any contribution by the deputies on the issue.

    The main focus of the specific amendment, he said, is on small and medium debtors, namely companies and professionals with an annual turnover of up to 2.5 million euros, who are the majority of those to be benefited by it. These are about 165,000 professionals and businesses with more than 700,000 jobs that eagerly anticipate the amendment.

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