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Bank of Greece to Look at Minister Polakis' Loan From Attica Bank

Pavlos Polakis is Greece’s alternate Minister of Health. He has been a controversial figure because of his attacks against media and political rivals.

Yiannis Stournaras, the governor of the Bank of Greece, called a meeting on Monday between his bank’s officials and those from Attica Bank. In question is Attica Bank’s recent personal loan to Greek Alternate Health Minister Pavlos Polakis.
It was disclosed following a barrage of reports over the weekend that Polakis took out a personal loan of €100,000 against his house in the area of Sfakia in Crete. The property is already mortgaged for €300,000.
The main opposition New Democracy Party has asked Attica Bank officers to explain the reasons why they granted such a large personal loan to the minister, using an already-mortgaged property as collateral.
Polakis’ loan was also granted at a time when Greek banks are under the gun to use very strict criteria on the granting of loans to everyone in Greece.
Polakis said in a statement made on his personal Facebook page that he took out the loan to cope with the expenditures that a politician faces in the course of fulfilling the requirements of his job.
The Alternate Health Minister had been obligated to quit his job as a surgeon in order to take up his ministerial duties.
Attica Bank is not among the four systemic Greek banks, which means that the Bank of Greece is responsible for supervising its activities instead of the European Central Bank.

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