The process of divestment of the percentage held by the Financial Stability Fund (HFS) in the National Bank is now in the final stages.
The opening meeting of the FHEF took place yesterday with the aim of carrying out the respective procedure at the beginning of October.
However, the messages coming from the “front” of the government’s negotiations with the Commission for the second phase of the “My Home 2” programme are also positive.
According to reports, it appears that the Prime Minister will go to Thessaloniki with the agreement to the terms of the program in his file.
The NGE and the State’s percentage
On the sale of the stake is scheduled for early October that the FEFG holds in the National Bank, which currently amounts to 18.39%. The specific decision was taken because, in view of the American elections (November 5), investment interest is more moderate 15 to 20 days before and 15 to 20 days after.
Therefore, the divestment process should be carried out in early October or in December. According to information, October was chosen.
One of the scenarios considered is to put up for sale a percentage of about 10%-13% of the shares of the National Bank and the rest (about 5%) to remain under state control through the HFSF and the Superfund from the new year (since the HFSF will be absorbed by the National Investment Fund). Furthermore, let us not forget that the National Bank is identified with the Greek state. This remains to be seen in practice in the coming period of time.
“My Home 2”
The Greek government and the Commission appear to be finding the “golden ratio” around the details of the new round of the “Spiti My 2” programme, expanding the number of couples who will be able to buy their first home with low interest or even interest-free loans.
The proposal submitted by the Greek side provides that of the 2 billion euros estimated for the “Spiti My 2” programme, 1 billion euros will be covered by the loan portion of the Recovery Fund and the remaining 1 billion euros will come from bank loans.
The very favorable conditions of the “My Home 2” program will undoubtedly boost the expansion of banks’ housing credit, which remained very low in previous years and with weak signs of recovery this year.
Athens Proposal to the Commission
The proposal submitted by the Greek side to the Commission provides for:
- expanding the number of beneficiaries as the age limit increases from 25-39 years to 49-50 years
- expand the income criteria for beneficiaries, increasing the limit to 20,000 euros from 16,000 euros for single people, with a corresponding increase in the limits for couples and those with children. It should be noted that in the previous program, beneficiaries were those who had a minimum annual income of 10,000 euros to 16,000 euros for a single person, 24,000 euros for a couple plus 3,000 euros for each child, 27,000 euros for single-parent families plus 3,000 euros for each child beyond the first. In addition, they did not have a property that could cover their housing needs.
- interest rates will be half of those offered on the market or even interest-free if they are families with more than 3 children or single-parent families.
- the age of the property, based on the Greek proposal, does not change and remains the same as in the previous program, which is at least 15 years old.
If all goes well, this action could begin before the end of the year.
