Rhodes, June 16, 2026
Dodecanese MP Manos Konsolas has submitted a series of proposals aimed at improving the current regulation framework for Swiss franc-denominated loans, seeking to allow a larger number of borrowers to benefit from the settlement scheme.
In a parliamentary intervention addressed to the Minister of National Economy and Finance, Mr. Konsolas notes that fewer than half of eligible borrowers have applied for inclusion in the existing scheme, while many others remain excluded because they do not meet the current eligibility criteria.
According to the MP, the limited participation is mainly due to three factors: borrowers’ expectations of a favorable ruling from Greece’s Supreme Court, the conversion of loans into euros based on inflated outstanding balances caused by the appreciation of the Swiss franc, and concerns that the resulting monthly installments may remain unaffordable, potentially leading to new non-performing loans.
Mr. Konsolas proposes introducing a ceiling on the calculation of debt after conversion into euros, arguing that many borrowers have already repaid a significant portion of their original loan amount but have seen their obligations increase dramatically due to exchange-rate fluctuations.
He also calls for an extension of the online application platform, which is currently scheduled to close on August 19, allowing more borrowers time to join the program.
The Dodecanese MP points out that courts in several European countries, including France, Germany, Italy and Cyprus, have issued decisions in favor of borrowers by converting Swiss franc loans into euros using the exchange rate applicable at the time the loans were originally disbursed.
