Legislation on bad loans is the result of negotiations
- Written by E.Tsiliopoulos
"The legislation on bad loans is the result of negotiations," Economy Minister Giorgos Stathakis said in statements to ANT1 TV on Tuesday.
"We discussed all possible tools and the possibility for loan holders to purchase their loan at the same price as the funds, but the creditors rejected the proposal," he added.
Stathakis noted that all European markets have a secondary market for loans and stressed that strict terms have been set. In order for a company to purchase a bad loan, it needs to be located in Europe and not in a tax heaven, he stated, adding that the management companies need to have their offices in Greece.
Regarding the transfer of public utilities to the new privatisation super fund, he said that it does not translate into their privatisation. "The transfer of companies to the Hellenic Republic Asset Development Fund (TAIPED) translates into their privatisation, while their transfer to the new super fund means 30-year exploitation."
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