Arab Today, arab today major greek bank to wipe debts of poorest clients
Last Updated : GMT 06:11:08
Arab Today, arab today
Arab Today, arab today

Major Greek bank to wipe debts of poorest clients

Arab Today, arab today

Arab Today, arab today Major Greek bank to wipe debts of poorest clients

Bank of Piraeus
Athens - AFP

One of Greece's largest banks says it will wipe away the debts of clients who owe up to 20,000 euros ($21,600) in a one-off gesture to ease the burden on its crisis-hit customers.

The Bank of Piraeus decided to write off or restructure debts in response to the "humanitarian crisis" through which its poorest clients were living, the company said in a statement.

Debts of up to 20,000 euros linked to credit cards and consumer loans would be written off completely, it said, while mortagage payments would be frozen and any associated interest forgiven.

Several bank bosses have left their posts since Greece's radical left Syriza government came to power in January, with Piraeus a notable exception.

Clients must already be enrolled in a newly-launched government benefits scheme to be eligible for the debt relief.

Syriza pushed new social safety net legislation, part of the platform on which it was swept to power, through parliament last month despite pressure from the EU to drop the measures.

It also includes housing support and subsidised food purchases to aid those who have fallen into poverty as a result of the EU-IMF austerity measures imposed on the country.

Greek banks are in desperate need of liquidity, with account holders withdrawing 25 billion euros between early December and late February on fears about Greece defaulting under Prime Minister Alexis Tsipras' government.

Greek banks are largely dependent on the ECB for financing, but the eurozone's central bank no longer accepts Greek sovereign bonds as collateral for loans.

Despite two bailouts worth up to 240 billion euros, six years of recession has wiped out a fifth off the Greek economy with many people being thrown out of their jobs or seeing their wages slashed.

The Greek government is currently locked in tense negotiations with the EU and IMF on a list of reforms it must carry out to unlock the remaining 7.2 billion euros of bailout loans.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today major greek bank to wipe debts of poorest clients Arab Today, arab today major greek bank to wipe debts of poorest clients

 



Arab Today, arab today
Arab Today, arab today Nohan Seyam designs beautiful accessories

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today 11 family members dead in rebel push

GMT 07:57 2017 Tuesday ,21 February

11 family members dead in rebel push
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today 57 monkeys carrying 'invasive' genes

GMT 16:00 2017 Tuesday ,21 February

57 monkeys carrying 'invasive' genes
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Ahmed Fahmy stresses he did not ignore singing

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 14:51 2017 Monday ,20 February

Ways to acquire presentation skills

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 16:08 2017 Wednesday ,15 February

Shawsh reveals her collection "Jewelry of dreams"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday