The Ministry of National Economy and Finance is granting an additional three-month “breathing space” to holders of Swiss franc loans, extending the deadline for inclusion in the new settlement scheme until September 30. The increased participation of borrowers, which already exceeds 14,000 applications, led to the decision to extend the process so that more interested parties can take advantage of the benefits provided by the new framework.

The decision was announced by Minister of National Economy and Finance Kyriakos Pierrakakis in an interview with radio station “Parapolitika,” noting that the public response confirms the scheme addresses a long-standing problem affecting thousands of households. He said interest in both the Swiss franc loan settlement and the out-of-court debt resolution mechanism remains particularly high, as the interventions were designed based on the real needs of borrowers.

The scheme applies to performing or already restructured Swiss franc loans and provides for their conversion into euros at a more favorable exchange rate, a fixed interest rate for the entire repayment period, and the possibility of extending repayment by up to five years. The aim is to significantly reduce monthly installments and offset part of the burden caused by exchange rate fluctuations in previous years.

For borrowers who are up to date with payments, three categories of support are provided. The first concerns those who meet specific income, asset, and deposit criteria and offers a 30% exchange rate “haircut” and a 2.50% interest rate. The second provides a 20% haircut and a 2.70% interest rate, while those who do not fall into the previous categories receive a 15% improved exchange rate and a 2.90% interest rate.

Even greater benefits are foreseen for financially vulnerable borrowers. For this category, an exchange rate reduction of up to 50% is provided, with an interest rate of 2.30%, significantly reducing both the outstanding debt and the monthly burden.

Non-performing loans are not included in this scheme and continue to be addressed through the out-of-court mechanism, which is the main restructuring tool for debtors facing difficulties in meeting their loan obligations.

At the same time, the minister announced amendments to a bill currently before Parliament, including improvements to provisions aimed at attracting investment funds to Greece, as well as the extension of tax incentives for certain categories of hybrid vehicles.

In particular, additional incentives are being considered for investment funds wishing to relocate part of their activities to the country, provided their economic activity exceeds specific thresholds. The current discount regime for certain categories of plug-in hybrid cars is also being extended for another six months.

In housing policy, Pierrakakis announced that the Asset Acquisition and Re-lease Agency for vulnerable borrowers is expected to become operational in the autumn. According to the data presented, the bidding process has been completed and the evaluation of proposals is already underway.

Referring to the recent Supreme Court ruling on loans under the Katseli law, he clarified that the decision will be implemented normally, while noting that the relevant services are examining technical details of implementation due to the wide variety of cases in practice.