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Non-performing loans for this category amount to 13 billion euros – Governor of the Bank of Greece called for the loan to be cleared more quickly
The need to liquidate loans more quickly under the Katseli Law was underlined by the commander of the Bank of GreeceYannis Stournaras
Speaking at a conference, according to available data, more than 200,000 borrowers or unproductive loans of more than 13 billion euros are included in the program. With end-of-year figures in 2018, 14.9% of non-performing loans in all portfolios enjoy legal protection. In the housing portfolio, the legal protection rate is 31.5%. In other words, about 3 loans out of 10 on housing are "a case" of the Katseli law.
From this point of view, it was pointed out that it was particularly important to strengthen and speed up the resolution of legal protection disputes offered by Law No. 3869/2010 or, as it is now established, "Katseli Law".
He acknowledged that steps had been taken to speed up the implementation of the legislation and that the capacity and efficiency of the judicial system had been strengthened by appointing newly recruited judges to the courts of first instance to reduce delays and to advance the dates of hearings. Nevertheless, as he said, the number of outstanding cases is remarkably high and the delays in cases remain very important.
Therefore, as noted, the prompt settlement and liquidation of this reserve would significantly contribute to the depletion of the total stock of non-performing loans. In addition, the lengthy prosecution of these cases creates new distortions, in that they are largely directly related to the phenomenon of bad payers, whose identity banks can not be identified.
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