A new government intervention aimed at protecting consumers with unsecured loans
A new government intervention aimed at protecting consumers with unsecured loans of up to 100,000 euros was announced by Greek Prime Minister Kyriakos Mitsotakis in his weekly Sunday Facebook post. He emphasized that the initiative seeks to “put an end to fine print and irregular practices” in the lending market.
According to the prime minister, forthcoming legislation from the Ministry of Development will introduce a cap on total repayment costs. Specifically, the maximum amount repayable on a consumer loan will range between 30% and 50% above the original principal—aligning Greece with the average standards seen across other European countries.
Mitsotakis also highlighted a new provision allowing borrowers to withdraw from a loan agreement within 14 days of signing. “These are measures that create a clearer and fairer framework for everyone,” he noted.
The prime minister also pointed to a recently launched international tender by the Ministry of Digital Governance for the supply, installation, operation, and maintenance of 1,000 fixed traffic cameras across selected points of the road network. The project forms part of a broader road safety strategy aimed at reducing violations such as running red lights and speeding—common causes of accidents.
As he explained, the
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