Nikos Androulakis announces PASOK plan for Greek private debt

PASOK leader Nikos Androulakis has announced plans to submit a legislative proposal to the Greek Parliament regarding private debt immediately following the IMF meeting. In an article published in ‘Ta Nea Savvatokyriako’, Androulakis criticized the current government for prioritizing budget surpluses while citizens struggle with debt. He noted that nearly 80 billion euros in loans have moved from bank balance sheets to investment funds managed by servicers, who are reportedly seeing record profits.

Androulakis emphasized the need for a ‘second chance’ for those who genuinely cannot pay, distinguishing between strategic defaulters and citizens facing genuine hardship. He criticized both the current administration and the previous SYRIZA-ANEL government, alleging that the protection of primary residences has been undermined by the opening of the market to investment funds and the introduction of electronic auctions.

The PASOK plan includes 11 specific commitments aimed at providing relief to debtors and protecting families from losing their homes.