A closely watched draft bill on Non-Performing Loans (NPLs) was passed by Greece’s Parliament on Monday afternoon, with the 158 deputies of ruling New Democracy (ND) party only voting in favor. Voting against were 139 deputies from opposition parties.

Three MPs did not vote.

The legislation incorporates EU Directive 2021/2167 into Greek law.

Opposition parties and their deputies in Parliament bitterly opposed the bill, charging that it benefits the interests of loan servicers, rather than individual borrowers and mortgage holders.

A protest took place outside the Parliament building during the date and subsequent vote.

A majority of the plenum, i.e. ND deputies, also rejected a draft amendment tabled by the Communist Party (KKE) to institute a moratorium on foreclosures and other legal injunctions on primary residences.