The strategy of fear: When banks “remember” society only as a threat
Banks Katseli law: The recent release of a non-paper from the banking staffs, on the occasion of the Supreme Court’s decision for the recalculation of interest in the “Katseli law,” constitutes a classic example of communicative terrorism.
With excessive audacity, the banking system attempts to christen a judicial decision that relieves thousands of borrowers as a “systemic risk,” at the same time that the banks themselves provoke with their unchecked waste.
The narrative of destruction
The non-paper enlists every possible scenario of destruction: It speaks of a “funding gap” of 1 billion euros, a threat of activating state guarantees, and a “international originality” that harms the investment image of the country. They warn us of a freeze on housing loans and intensification of auctions, presenting themselves as victims of a “sudden” change.
However, the reality behind the numbers is different. While the non-paper worries about the “sustainability” of securitizations, the administrations of the four systemic banks during the period 2020 – 2025 lived in a parallel galaxy of prosperity.
The challenge of the numbers
It is at least ironic that mention is made of a social burden, when the banking institutions themselves waste billions on expenses that in no way benefit the average citizen:
Bonuses and remunerations: Top executives shared 50 – 70 million euros, with the increases in CEO remunerations reaching a provocative +500%.
Rebranding and marketing: More than 450 million euros were spent on new corporate identities and sponsorships.
Operational waste: Approximately 1 billion euros was channeled to consultants, events, and luxurious facilities.
In total, a hole of 1.1 – 1.8 billion euros was created by the banks themselves, for their own self-promotion and reward, at a time when society, which supported them with the recapitalizations, is being pressed by inflation.
The hypocrisy of closed properties
Banking sensitivity is exhausted where profits begin. While they fuss about “housing credit,” they keep hermetically closed over 8,300 residential properties.
They prefer to be burdened with the “double ENFIA” of 2026 (approximately 10 – 12 million euros), rather than make these houses available to the market, contributing to the de-escalation of rents.
Social callousness
The non-paper is not a risk analysis but a lever of pressure to cancel in practice a decision favorable to the citizen.
The banks forget that the certainty of law must also concern the borrower, not only the profits of the funds.
The attempt to intimidate society with the spectrum of economic instability, at the hour when their executives distribute millions to themselves, is the absolute epitome of social callousness.
