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Part II EU Jurisdictions, 11 Greece

Christina Livada

From: Unfair Terms in Banking and Financial Contracts

Edited By: Danny Busch, Matthias Lehmann

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 15 April 2024

Subject(s):
Banker-customer contract — Credit — Capital markets — Financial regulation

This chapter explores the use of unfair terms in banking and financial contracts in Greece. It explains that Greek case law on unfair terms in banking and financial contracts has expanded considerably since the liberalization of consumer credit in 2003. The Unfair Terms Directive (UTD) was transposed into Greek law in 1994 by means of Article 2 of Law 2251/1994, which is the main legal act on consumer protection in Greece. The chapter looks into the legal basis of the unfairness test and discusses notable examples of unfair or intransparent contract terms. It describes how Greek legislators have adopted stricter provisions to define ‘consumer’ compared to the provisions in the UTD.

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