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Foreclosures to Dominate Leaders' Talks

Greek PM Antonis Samaras (L) with PASOK leader Evangelos VenizelsThe criteria which will decide whether banks can foreclose on property when customers have stopped making loan repayments are likely to be at the center of talks between Greek Prime Minister Antonis Samaras and Deputy Prime Minister Evangelos Venizelos on Thursday.
Samaras pledged this week that he would personally study the issue amid government unrest about the prospect of ending a moratorium on foreclosures, which has been in place since 2009.
Sources said that among the ideas being considered by the government is to allow banks to auction some 10,000 business properties and holiday homes, thereby avoiding the politically sensitive problem of owners losing their primary residences – at least for the time being.
The government has been under pressure from the troika to allow foreclosures because Greece’s lenders believe the continued moratorium is distorting the property market.
Ministers have admitted over the past few weeks that the suspension, which is due to expire at the end of the year, is not going to be renewed. This has sparked objections from opposition parties and within government ranks.
Sources said Samaras might unveil the government’s proposals when he speaks at the Thessaloniki International Fair at the beginning of September.
(source: ANSA)

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