In his reply, Hatzidakis highlighted the reduction in non-performing loans, pointing to a decrease from over 40% in 2019 to 7.5% by 2024. He credited several legislative measures introduced since 2019, emphasising the government’s success in bringing down non-performing loans from €92.2 billion to €70.4 billion. However, the minister acknowledged the need for ongoing efforts to support vulnerable borrowers, outlining the strengthening of extrajudicial mechanisms and new obligations imposed on servicers.

The minister’s response failed to appease all critics. Marios Salmas, one of the MPs who signed the initial question, acknowledged some positive actions but stressed the importance of ensuring that existing laws are enforced effectively. He suggested that servicers should give borrowers more opportunities before resorting to auctions. “It’s not enough to say you have laws and an institutional framework; they must also be applied,” Salmas said.

Nikitas Kaklamanis, another MP involved in the inquiry, described Hatzidakis’ response as “generic,” noting that their five specific questions had not been addressed. “At the heart of the answer, it starts with how banks were bailed out of bad loans, while we were asking about the public. We didn’t get an answer,” Kaklamanis said, adding that “further interventions” would be forthcoming from ND MPs on the issue.

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