Greek Prime Minister Alexis Tsipras told ministers at Cabinet meeting on Wednesday that the leftist government will dole out a total of 500 million euros from state coffers in 2019 to subsidize rents and mortgage payments of low-income households.
Tsipras address the first Cabinet meeting after a mini reshuffle last week, which added another two one-time socialist PASOK cadres and former ministers to his poll-trailing government. The meeting's opening and Tsipras' initial address, in fact, was again carried live by the state broadcast.
The breakdown of the sum, according to Tsipras, is 300 million euros for rent subsidies and 200 million for the subsidization of certain mortgage payments. He said the first welfare spending program affects 260,000 households, from between 70 euros a month to up to 210 euros per month.
The spending program, the one budgeted at 200 million euros, emanates from a recent agreement, in principle, between the government and Greece's four systemic banks to legislate a framework for protection of primary residences from creditors.
The current legal framework expires at the end of the month.
Although highly touted by the government and much of the pro-government last month, the draft agreement has reportedly not satisfied European creditors.
