Mitsotakis Caps Consumer Loan Costs and Unveils Road Safety Cameras in Weekly Policy Blitz

Prime Minister Kyriakos Mitsotakis says that Greece will introduce a legal cap on consumer loan repayment costs, limiting the total amount borrowers can be charged to between 30 and 50 percent above the original principal -bringing Greece in line with average European standards and ending what he called "fine print

The measure, to be legislated by the Ministry of Development, will apply to unsecured loans of up to €100,000. Mr. Mitsotakis also announced a new 14-day withdrawal right, allowing borrowers to exit a loan agreement within two weeks of signing without penalty.

In his weekly Facebook address, the prime minister also unveiled plans for 1,000 fixed traffic cameras to be installed at key points across the national road network through an international tender by the Ministry of Digital Governance.

The cameras will be directly connected to the Hellenic Police and linked to a digital penalty management system designed to ensure fines are issued promptly and transparently.

The initiative targets red-light running and speeding — among the leading causes of road fatalities in Greece.

Mr. Mitsotakis reported that the Neighborhood Nannies program — a subsidized childcare initiative — attracted more than 13,500 visits to its dedicated platform on its first day of operation.

On housing, the My Home II program has approved 13,461 loans totaling €1.617 billion, with an average loan of €120,150.

The prime minister also announced the first round of compensation payments — totaling €22.76 million — to 849 livestock farmers whose animals were culled due to outbreaks of sheep pox and foot-and-mouth disease.

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Prime Minister Kyriakos Mitsotakis says that Greece will introduce a legal cap on consumer loan repayment costs, limiting the total amount borrowers can be charged to between 30 and 50 percent above the original principal -bringing Greece in line with average European standards and ending what he called "fine print and irregular practices" in the lending market.

The measure, to be legislated by the Ministry of Development, will apply to unsecured loans of up to €100,000. Mr. Mitsotakis also announced a new 14-day withdrawal right, allowing borrowers to exit a loan agreement within two weeks of signing without penalty.

In his weekly Facebook address, the prime minister also unveiled plans for 1,000 fixed traffic cameras to be installed at key points across the national road network through an international tender by the Ministry of Digital Governance.

The cameras will be directly connected to the Hellenic Police and linked to a digital penalty management system designed to ensure fines are issued promptly and transparently.

The initiative targets red-light running and speeding — among the leading causes of road fatalities in Greece.

Mr. Mitsotakis reported that the Neighborhood Nannies program — a subsidized childcare initiative — attracted more than 13,500 visits to its dedicated platform on its first day of operation.

On housing, the My Home II program has approved 13,461 loans totaling €1.617 billion, with an average loan of €120,150.

The prime minister also announced the first round of compensation payments — totaling €22.76 million — to 849 livestock farmers whose animals were culled due to outbreaks of sheep pox and foot-and-mouth disease.

Διαβάστε περισσότερα στο iefimerida.gr