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Greece

Online Auctions Overshadow Greek Bailout Progress

Monday's crunch Eurogroup meeting may have praised Athens for legislating 95 of 110 “prerequisites” needed to access bailout funds but stressed the need for online auctions before a next loan tranche is disbursed in February. Greece’s government has committed to...

Protesters in Fierce Clashes with Police over Online Home Auctions in Greece

Protesters who were losing their homes engaged in fierce clashes with Greek riot police on the first day of online auctions to sell off repossessed properties amid the ongoing economic crisis in the country. Images from the scene have shown...

Online Foreclosure Auctions in Greece to Begin Wednesday

The first ten electronic foreclosure auctions will be held on Wednesday, following the decision of the General Assembly of the Athens-Piraeus Notaries to suspend their abstention from duty. Notaries had abstained from their duties for weeks, after receiving threats from...

Fresh Clashes Break Out at Greek Property Auctions (video)

Trouble has broken out in downtown Athens in another clash between riot police and campaigners against auctions of foreclosed properties. According to reports, some demonstrators in the Exarchia district pelted police with eggs and trash before attempting to gain entry...

Greek Police Clash with Protesters Over Home Auctions (video)

At least one person was injured on Wednesday as Greek riot police used tear gas to disperse a crowd of protesters against home auctions, in central Athens. Protesters, including a former SYRIZA minister and at least two former MP’s of...

Over 2,000 Greek e-Auctions Planned Before October

A total of 2,018 property auctions have been scheduled for the period up to Oct. 10 of which around 200 are expected to be carried out on Wednesday, according the Notary Association of Athens, Piraeus, Aegean and Dodecanese. The Athens...

Greek Tax Offices Get Online-Auction Instructions

Greek tax offices have been given instructions for online real-estate auctions which will take place from May 1. A circular which summarizes changes voted upon in parliament last month also issues provisions on how the controversial auctions should be conducted. They...

ECB Insists on Property Auctions Across Greece

An "effective auction system is an important part of the work" in cutting bad loans in Greece, the head of the European Central Bank has insisted. Mario Draghi, replying to a letter from Greek MEP Nikolaos Chountis, said the controversial...

'We Won't Enforce Auctions' Warn Greek Police

Greek police on Tuesday said they will not be used to enforce controversial auctions or foreclosures. In a statement, the Pan-Hellenic Federation of Police Officers (PFP) said, its members, although committed to upholding the law, were opposed to the "dangerous...

Chinese Investors Look for Bargains in Foreclosure Auctions in Greece

Chinese investors are embracing online foreclosure auctions in Greece, while demand for buying real estate property in Greece has gone up 158.5%, according to Juwai.com. Juwai.com is a platform connecting international agents real estate agents and Chinese buyers. According to its...

Piraeus Bank Online Property Auction Raises More than €6 Million

The second open e-auction held by Piraeus Bank was successfully completed on Wednesday 25 October 2017, with 57 properties sold in total. The auction was conducted via the Bank’s innovative property auction website.   A total of 216 bids were submitted...

Homes Worth Up to 300,000 Euros to be Exempt From E-Auctions

All residences valued at 300,000 euros or less will be exempt from foreclosure auctions using the new electronic platform, according to an agreement reached by Justice Minister Stavros Kontonis and Greek banks on Wednesday. The exemption will apply for...

Greek MIT Professor Says Country Must Get Ready for Artificial Intelligence

Greeks must become technologically literate and become familiar with algorithms and artificial intelligence (AI), Konstantinos Daskalakis, Cretan-born MIT Associate Professor of Electrical Engineering and Computer Science, told an Athens summit this week. Speaking at the Niarchos Foundation Cultural Center, Daskalakis,...

No Discussion of Greek Debt Easing on Monday's Eurogroup

On Monday's Eurogroup, eurozone finance ministers will not discuss Greece's debt easing, nor the supervision of Greek reforms after the bailout program ends in August, according to a Kathimerini newspaper report. The report says that technical discussions have not progressed...

Greece Braced for New Round of Talks with Creditors

Representatives of Greece’s creditors will meet government officials on Monday as deliberations begin for the fourth review of the Greek program. According to ANMA, the focus of the first meeting between the heads of the institutions and the Greek government...