Banks, customers head for mediation

The ministries of Justice and Development are drawing up legislation that would require banks and indebted customers to settle financial disputes via mediation rather than the courts, it emerged at a conference in Athens on Tuesday.

The head of the EU Task Force for Greece, Horst Reichenbach, stressed the need for mediation to become more widespread.

“It must be made absolutely clear to banks that at a political level there is an intention for solutions to be found through mediation,” he told the audience.

Consumer Ombudsman Evangelos Zerveas said the watchdog used the practice of mediation effectively, with 80 percent of cases it settles through mediation being concluded within 88 days.

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