Fiscal Council head flags concerns over rise in consumer loans

Fiscal Council president Michalis Persianis on Friday raised concerns over the growing trend in consumer loans, which, according to him, are being granted easily by some banks without collateral.

He warned that these loans are unproductive and could strain both households and the wider economy. 

In a statement to StockWatch, Persianis said that the council does not “welcome” the rise in consumer loans, pointing out that they “are granted very easily and without special collateral by some banks”.