Red loan redemption plan for Armed Forces officers announced by Kammenos

In particular, Mr. Kammenos announced the possibility of acquiring, on favorable terms, all the loans of the military and civilian personnel of the armed forces from the systemic banks.

As the Minister of National Defense, Panos Kammenos, said, "we are preparing a comprehensive proposal for the acquisition of all loans through the money available to the Funds and the Independent Building Organization of Officers (AOCA).

"We have already asked staff to tender the mortgage loans granted to them by the banks," Mr Kammenos said. He said the initiative includes some serviced loans, even consumer ones: "By collecting this data we are preparing a proposal for the redemption of all red and green loans. We will ask for their purchase at a discount that may be present in these cases." The Minister of National Defense also said that this regime would also cover retirees.

Responding to a question about the "budget" of this program, Mr Kammenos estimated that this initiative would not overcome the funds available to the Funds and the Independent Building Organization of Officers (AOCA).