A Greek government legal framework to protect eligible households' primary residence and subsidize mortgage payments has been approved by the European Commission, which judged that it was compatible with EU rules regarding state subsidies.
A Commission announcement on Thursday said the framework, budgeted at 132 million euros annually, will include strict eligibility criteria, such as the maximum value of a property and borrowers' annual income.
The Commission reminded that under the framework, eligible borrowers will receive subsidies corresponding from 20 to 50 percent of the monthly mortgage payment, depending on their income.
