Parties Owe Banks 418 million Euro

Parties Owe Banks 418 million Euro

While the committee inquiry into the investigation for loans to political parties and the media is coming to an end, the SYRIZA rapporteur in the inquiry, Spiros Lappas, describes the “dissection” of political parties and media in an interview with, and sends a political message: “We have decided with absolute sincerity to do whatever it takes to restore the lost value of the political system.”

According to figures cited by the Karditsa region SYRIZA MP and lawyer, “parties owe 418 million euros to banks. Of these, 401 million are from the the New Democracy and PASOK parties”. “They have not paid a cent of the 401 million they owe” he said ”since the autumn of 2011,” he adds.

“With the most lenient calculations we made during the committee meeting, even if New Democracy was to pay all of it’s government funding for the next twenty years it will take it 150 years to repay the loan and PASOK would take 410 years.”

Mr. Lappas also gives information on what the media owes to credit institutions in the country. As he states the money owed to the four main banks (National Bank, Piraeus Bank, Eurobank, Alpha Bank) goes over 800 million EUR.  But  what is ”really shocking”, according to the MP,  is that they ”received new loans during the tough Memorandum years while they were also moving towards mass layoffs and had huge revenue losses” at a time when every loan had been cut, even from healthy businesses.

This, according to SYRIZA and its rapporteur at the committee of inquiry, is the well known “corruption triangle”, where “the banks gave massive loans to the Media under pressure from the party system, the media then, out of gratitude from the massive funding without any guarantee or warranty, projected the ”work” of the governments: and that’s how corruption worked.“/IBNA