Factsheet for case GR-2020-49/1497 – measures in Greece
|Country||Greece , applies nationwide|
|Time period||Temporary, 30 November 2020 – 30 August 2021|
|Type||Legislations or other statutory regulations|
Measures to prevent social hardship
– Preventing over-indebtedness
|Author||Elena Kousta (INE GSEE) and Eurofound|
|Case created||29 November 2020 (updated 11 January 2021)|
The "BRIDGE" programme of the Ministry of Finance concerns the mortgage borrowers affected by the COVID-19 pandemic. It provides for state subsidy of mortgage installments for a period of nine months. The programme will cover not only non-performing loans, but also borrowers that are not in arrears but have been impacted by the coronavirus crisis.
A platform created by the Ministry of Finance (www.keyd.gov.gr) in order to receive applications for participation in the "BRIDGE" program concerning mortgage borrowers affected by the pandemic. The payment of the loan installment subsidy for nine months to the beneficiaries is expected to start on Monday 30 November 2020 and is addressed to three different categories of borrowers.
The first category concerns the "greens", that is, Informed borrowers who will receive a state subsidy of their mortgages at a rate of 70% - 90% for nine months. The other two categories concern the "reds", that is borrowers who have stopped repaying their loan to the bank for more than three months and borrowers whose mortgages have been terminated by the banks as they have not were served for a long time. These two categories of borrowers are entitled to lower installment subsidy rates loans, from 30%-70% and only if, by the end of the year, they proceed to settle their loan with the bank and consent to the lifting of their banking and tax personal data. The estimated budget cost is €108 million for 2020, and €280 million for 2021.
The Ministry's of Finance platform received 160,000 applications for mortgage subsidy. Press releases refer that the Ministry has concluded the eligibility criteria control for 100,000 applicants. However, it is not yet known the amount of beneficiaries.
|Does not apply to workers||Does not apply to businesses||Applies to all citizens|
Social partners' role in designing the measure and form of involvement:
|Trade unions||Employers' organisations|
|Form||Not applicable||Not applicable|
Social partners' role in the implementation, monitoring and assessment phase:
No available answer
No available answer
Eurofound (2020), 'Bridge Programme' for the support of mortgage loan borrowers, case GR-2020-49/1497 (measures in Greece), COVID-19 EU PolicyWatch, Dublin, http://eurofound.link/covid19eupolicywatch
Disclaimer: This information has not been subject to the full Eurofound evaluation, editorial and publication process. All information is preliminary and subject to change.