Milena Apostolaki launched a scathing attack on the Mitsotakis government and the minister of National Economy and Finance, K. Pierrakakis, during scrutiny of the omnibus bill on the financial system and private debt.
“PASOK will not take lessons in responsibility from Mr Pierrakakis,” she said.
The PASOK MP described the move as a “moving attempt to manage the political cost for the Mitsotakis government”, noting that the minister had been brought in at the committee’s final meeting “supposedly bearing gifts”. “Why have you only now discovered the need to raise fines and intervene in the interest rate charged under the out-of-court mechanism?” she asked, recalling the minister’s earlier announcements in a video he had posted on 3 October to present the bill.
She also accused Mr Pierrakakis of trying to revive the two-party politics of the bailout years, while avoiding a substantive debate on private debt. “Tsipras and Mitsotakis were both highly effective in establishing funds and allowing them to operate unchecked, along with servicers,” she said.
She described the withdrawal of Article 23 as “a significant parliamentary victory, won on the floor of the House.” The PASOK MP rejected as false the minister’s claim that the contested provision did not worsen debtors’ position. She explained that converting a private debt restructuring agreement into an enforceable title deprived borrowers of a crucial stage of judicial protection. “The stages of judicial protection are not bureaucratic formalities,” she said.
She made clear, however, that withdrawing the provision did not change the fact that the government’s professed concern for protecting borrowers was merely a pretext, since seriously problematic measures remained in place. In particular, the government is retaining a similar provision in the out-of-court debt settlement mechanism, which PASOK is seeking to abolish through an amendment.
Setting out the results of government policy, she noted that in 2025 there were 25,565 completed auctions of homes and homes with plots of land, compared with 4,536 in 2021, while non-performing loans remained at €78.4 billion.
She also criticised the abolition of the Bank of Greece’s Code of Conduct, advance payments of up to 15% for debt restructuring, the failure to implement Supreme Court Plenary Decision 6/2026 and the profiteering interest rate the government imposes on the 120-instalment plan.
Milena Apostolaki called for PASOK’s comprehensive bill on private debt to be brought before Parliament for debate immediately. It includes protection for primary residences, a revamp of the out-of-court mechanism and a 120-instalment plan.
She stressed that two distinct policy proposals are now in conflict: that of New Democracy, which makes things easier for funds and servicers, and that of PASOK, which offers debtors a genuine second chance.
“Meaningful protection for borrowers remains an outstanding issue. And we will continue to fight for it, inside and outside Parliament,” she concluded.