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Protection of primary residence

During the debate on minimum loss coverage for non-performing exposures of the banks taken place in the plenary session of the European Parliament in Brussels Golden Dawn MEP Lampros Fountoulis took the floor. He highlighted that despite the fact that strategic bad payers must be detected, at the same time the primary residences of the citizens, who are unable to pay off their debts, must be protected.

‘’Unfortunately, the Commission approaches this crucial matter from the perspective of the banks and not in the best interest of the protection of consumers. Banks constitute an important pillar of the economy of the member-states. A potential collapse of the banks at this specific moment will have brought tremendous hardships in the daily life of both the citizens and the member-states themselves. The strategic bad payers must be detected and forced to pay. The banks are responsible for the uncontrollable distribution of loans without warranty. Millions of citizens in the member-states of the Union, mainly due to the economic crisis, are unable to pay off their debts and are at the risk of even losing their residence. The banks through the recapitalisation from the citizens’ money continue to operate. For the sake of the citizens who face survival problems due to their debts measures must be taken such as protection of their primary residence and provisions of certain conveniences for the full payment of their debts especially for unemployed and underpaid people along with the most vulnerable social groups.’’

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