Economy Minister Giorgos Stathakis on Saturday reiterated a campaign pledge by his leftist SYRIZA government to set up a new state entity to manage non-performing mortgages of households below the poverty line.

As always, the “devil lies in the details”, which are expected to be unveiled in the coming months — i.e. what the government considers the poverty threshold in Greece; how to differentiate individuals who are truly destitute from those simply skilled concealing income.

In an interview with the Athens daily Ethnos, the minister explained that this new agency will “restructure” the loans. No information on whether whose money will accompany this “restructuring”.

However, until this happens, the government intends to table a law in the parliament extending protection of primary residences from foreclosures. A similar practice had been in place for the past several years.