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Next Previous Borrower Protection HOME • INSIDER • CYPRUS • What SYPRODAT and the Hellenic Federation for Protection …
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On the issue of restructuring and the need to remove over-indebtedness, which leads to the avoidance of divestitures, the President of the Association for the Protection of Borrowers (SYPRODAT) focused on a meeting with the President of the National Federation of Borrowers. April.
The discussion also referred to the behavior of the employees of the Banks, the Investment Funds and the Management Companies towards the borrowers, according to the announcement published by SYPRODAT.
According to the announcement, the discussion was conducted with the data from the catastrophic effects of the war in Ukraine on the Cypriot economy and in general, such as the increase in the prices of all goods and services, inflation and & nbsp; the impact they have on the income potential of borrowers, which, they say, is declining, resulting in & nbsp; increase of Non-Performing Loans.
For his part, the President of the Hellenic Association pointed out the tragedy of the whole picture as it is reflected today for the borrowers. Specifically for the month of May 2022, 3,000 auctions are planned to be held nationwide, he said.
“However, the criticality of the situation is reflected in a relevant statement of the representative of the European Central Bank during the & nbsp; internationally renowned economic conference in Delphi, where he stressed that there is a relevant commitment of the Greek State that 120,000 auctions must be executed in a very short time.” , the announcement adds.
Hundreds of applications for payment orders from the 4 systemic banks from funds, etc. are submitted daily to the local courts of first instance and peace courts of the Hellenic Republic. Hundreds of arrests are made daily in Greek households and small and medium-sized enterprises, and hundreds of auctions are held every Wednesday, Thursday and Friday, they added.
undermining development efforts but also with mathematical precision in family dramas and in the medium term in a large-scale intense social explosion “, says the Association.
Finally, the President of the Greek Association presented the picture in Spain where the More than 1,000,000 homes have been auctioned off in the last eight years, according to the announcement.
.000 members, have set up water and electricity rehabilitation workshops and are violating the closed and dilapidated “Houses are being auctioned off and hundreds of thousands of homeless Spanish borrowers are being resettled there,” the statement concluded.