Development Minister Takis Theodorikakos discussed the significant changes introduced by the new consumer credit bill—which will be submitted for public consultation in May and subsequently voted on in Parliament—while speaking on the program “News Room” on ERTNEWS.
“It aligns with two European directives, and with this bill we are protecting consumers from abusive practices regarding loans of up to 100,000 euros without collateral. We’re putting an end to the fine print where you don’t read the terms and conditions, as well as to coercive practices.
A cap will be placed on how much a consumer loan can amount to when you pay it off, and the percentage will be between 30% and 50% above the principal you borrowed. This percentage is not arbitrary, as it is the standard rate applied in most European countries. Another measure is that a loan can be canceled within 14 days of being signed. “The goal is to create a trustworthy relationship between the citizen and the bank,” Mr. Theodorikakos pointed out.
Regarding French President Emmanuel Macron’s visit to Athens and the agreements signed between the two countries, the Minister of Development noted that “it underscores Greece’s strong and enhanced role in the broader Eastern Mediterranean region as a force for peace and stability.
It also reaffirms our country’s strong strategic relationship with France, and this visit was of great geostrategic and geopolitical interest. They also complement the country’s overall strategic choice to maintain and upgrade its strategic ties with the U.S.
Regarding the declaration of intent in the field of nuclear technology signed with the French Minister of Economy and Industry, Roland Lesquire, Mr. Theodorikakos highlighted the enhanced cooperation between the two countries in the fields of research, innovation, and public policy on nuclear energy.
“We are very interested in nuclear energy for peaceful purposes, as France is a major nuclear power. There is close cooperation between the "Demokritos" Institute and its French counterpart. Nuclear energy issues are directly linked to the prospect of reducing energy costs for Greek industry.
The Greek economy can achieve strong and sustainable growth as long as the footprint of industry, innovation, and exports continues to strengthen. These factors lead to higher wages and greater productivity.”
The Minister of Development referred to the three new schemes under the Development Law— Manufacturing, Major Investments, Border Regions—with €450 million in support—as well as the six schemes under the 2022 Development Law, under which, starting tomorrow (April 28), investors will be able to submit the relevant audit reports to begin receiving their funds.
“Those who move forward with their investments will be paid as usual—that is the message. Furthermore, we have already recovered 120 million euros from investments that were never completed under previous Development Laws, and those investors cannot participate in any scheme again. Society demands that there be basic equality and justice. These are not just words, but actions,” he emphasized.
Mr. Theodorikakos also spoke about the measures taken against profiteering, noting that “thanks to the cap on profit margins, combined with the 20-cent-per-liter subsidy on diesel, we have curbed price hikes and put an end to profiteering. It should be emphasized that the increase in diesel prices is the smallest in the entire EU, a sign that the measures are working effectively, and we will continue them in May. “The problem is here; we will need to remain vigilant. We are open to new measures, with the goal of protecting society and the economy.”
Regarding food, he noted that based on current data, the price cap measure should be extended beyond June 30. “This is not a measure to harm businesses, but to protect consumers. It is a fair measure, because businesses continue to earn as much as they did in 2025,” he pointed out, while regarding inspections by the new Independent Authority, he said that “It is the Authority’s responsibility to conduct inspections and ensure compliance with the measures; we await the results, and anyone who violates the law will face serious fines.”
Regarding the elections demanded by the opposition, Mr. Theodorikakos noted that “elections cannot be held right now, and the opposition knows this. They’re just saying it for the sake of saying it. We are in the midst of wars, while at the same time we have an obligation to finalize the Recovery Fund package by August 31. Therefore, during this period, there is absolutely no possibility of elections; it is contrary to our basic obligations.”
At the same time, he commented that the opposition parties are fueling a scandal and competing to see who can shout the loudest. “There will be a battle for second place between PASOK and Mr. Tsipras’s new party, which is also an admission of SYRIZA’s failure. The opposition offers no serious, credible alternative,” he said.
Regarding the polls, the Minister of Development emphasized that “they are far removed from what will happen in the elections, when the real dilemmas are presented to the citizens. New Democracy must clearly address society regarding the Greece of tomorrow. With growth for all Greeks, with serious policies that concern the whole of society. Our party will have nothing to fear and will be the main political force for the government of tomorrow.”
Finally, regarding constitutional revision and the debate on the incompatibility of serving as a minister and a member of parliament, Mr. Theodorikakos emphasized that “the process of electing members of parliament is sacred and cannot be abolished. The verdict of the people cannot be replaced.”