In an interview with ANT1, Finance Minister Kyriakos Pierrakakis argued that the Greek economy is showing strong resilience despite the unstable international environment, noting that growth is hovering around 2%, while investments are rising at a rate of 12%, significantly higher than initial forecasts.
He placed particular emphasis on the new European energy escape clause, which, he said, corresponds to investments of 1.5 billion euros for Greece over the three-year period 2026–2028. These funds will not be translated into direct subsidies for households but will be directed toward energy infrastructure and network projects, with the aim of reducing the country’s exposure to international energy crises and keeping energy costs down for citizens and businesses.
Referring to private debt, Mr. Pierrakakis described the new package of measures as the “most comprehensive since the crisis,” confirming that it will be submitted for a vote in June. The measures include raising the exemption threshold from €1,250 to €1,600, reinstating the 72-installment plan for old debts, and improvements to the out-of-court settlement mechanism.
The minister argued that the out-of-court settlement mechanism is now also becoming a tool for protecting primary residences, offering larger “haircuts” and lower installments to those who choose to include only their primary residence in the settlement process. At the same time, he reiterated that the Real Estate Acquisition and Leaseback Agency is expected to become operational this fall.
He also made special mention of the recent decision by the Plenary Session of the Supreme Court regarding loans under the Katseli Law. As he stated, the Ministry of Finance is reviewing the full text of the decision, emphasizing that it does not automatically apply to all borrowers.
He added that the government is seeking a balanced solution that will ensure, on the one hand, the protection of borrowers and, on the other, the stability of the financial system and the safeguarding of the public interest, while also taking into account the guarantees of the "Hercules."
“Our departments are reviewing the decision, and we will then determine what our response will be,” he said, leaving open the possibility of further initiatives on the part of the government.