Half of all protected debtors viewed as strategic defaulters


One in every two borrowers who have come under the protective umbrella of the Katseli law is a strategic defaulter, while there are similar indications about one in every three debtors who entered the existing platform for the protection of their main residence, and for one in every three whose properties are set to be auctioned, as they find the money to pay off their dues, Finance Minister Christos Staikouras stated on Tuesday.

He cited data from the protection process that indicate there is very little interest in the genuine protection offered to those who decide to enter a debt restructuring and repayment plan.