Juncker Exposes the Greek Government’s Initiative to Sell Off ‘Red Loans’


European Commission President Jean-Claude Juncker said that it was Greece’s decision to sell the non-performing loans (NPLs) to foreign funds. Juncker refuted that the Greek government had been forced to legislate the sale of these so-called “red loans” (NPLs) to “vulture funds” in response to a question by private ANT1 TV.

“Greek authorities took the initiative of the creation of the original and reviewed edition of Law 4354/2015 and they did not face any restriction such as the one mentioned in your question, and the truth is that it was never discussed (with us) at any stage of the legislative process,” he said.