The Swiss franc repayment plan has been extended until September 30 to give borrowers more time. This was stated by Minister of National Economy and Finance Kyriakos Pierrakakis, speaking on “Parapolitika FM,” noting that “we have 14,000 borrowers who have applied for inclusion; the arrangement applies, and an extension will be granted under the current bill.” As he also noted, “the arrangement will not change. We have been discussing this issue for many years; there is a haircut, and a solution based on income level. The regulation was correct, and more time will be given, until September 30.”
In the same interview, the Minister also said that regarding hybrid passenger cars, “the bill includes a provision for plug-in electric vehicles, in line with common sense.” He added that “we will extend the 50% graduated tax deduction for another 6 months-75% for hybrids, and this also applies to vehicles purchased in the last six months that have not yet been registered, so as to avoid any surprises. Starting January 1, 2027, a 50% tax credit will apply to plug-in vehicles.”
Regarding the Real Estate Leasing Agency, Mr. Pierrakakis noted that “I have served as a minister in ministries that acted within 24 hours, but there are other matters that involve different procedures. We are in the final stage of implementation; the final bids were submitted on May 29, and the evaluation process has begun. The agency is a tool for protecting primary residences; it allows tenants to stay for 12 years, with a government rent subsidy and the option for the tenant to repurchase the property. The Agency will begin operations in the fall, and in the meantime, no one has been left unprotected. At the same time, the out-of-court mechanism is a tool for protecting primary residences.”
Regarding the “Katseli Law,” he stated that “the opposition acted hastily; it is a complex decision. Ministry officials are studying the decision in depth; the opposition likely hasn’t even read it. The Supreme Court’s decision will be implemented; the discussion is about how to implement it. We are studying the decision, and there are many specific cases to consider. We will find the best way to implement it.”
Finally, regarding private debt, he noted that “systemically, it is lower than the European average; we are at 94.5% of GDP, while in Europe it is at 121%, but the ministry and the government cannot ignore it. Thousands of people are affected. We are providing people with the appropriate tools so that, on the one hand, the culture—which now generates primary surpluses—does not change, but we need to get ‘people out of the water.’ We need a middle ground—a state that offers a helping hand rather than pointing fingers. People are embracing the regulation on the Swiss franc and the out-of-court mechanism, as they were designed based on people’s needs.”
