Coalition MP’s Oppose Foreclosure Plan

foreclosureGreek Prime Minister Antonis Samaras’ plan to let banks seize homes if people can’t afford to pay their mortgages because of unrelenting austerity measures has run into resistance even from Members of Parliament in his New Democracy Conservative party and the coalition partners, the PASOK Socialists, but the government said they will be spoken to and persuaded to back it.

Under pressure from its international lenders, the Troika of the European Union-International Monetary Fund-European Central Bank (EU-IMF-ECB), the government wants to lift a ban that expires at the end of the year and which has prevented banks, which are receiving 50 billion euros ($65 billion) in bailout money from the government, to take the homes of people who have fallen behind on their mortgages.

Nearly 23 percent of mortgage holders aren’t paying and the government said it wants banks to sort out legitimate cases where they can’t afford the monthly cost from people it believes are taking advantage of austerity to avoid paying, but there were no plans announced to protect people who will otherwise lose their homes, even primary residences. Bad loans in mortgages total 16.8 billion euros ($22.28 billion).

All that comes as the government is set to increase property taxes again to go along with three years of pay cuts, other tax hikes, slashed pensions and the coming firing of scores of thousands of public workers, setting off uneasiness from a handful of New Democracy and PASOK MP’s.

The government has admitted it’s moving ahead to let home auctions begin in January but said it would seek to protect homeowners who are suffering genuine economic hardship, although Samaras earlier set aside a bill to provide relief to debtors. The government didn’t offer a plan to require banks to restructure mortgages to a level where people could pay, even if they could demonstrate they can’t meet their current obligatons because of pay cuts, tax hikes, slashed pensions or job loss.

New Democracy’s Parliamentary spokesman Sofia Voultepsi launched a strong attack against any plans to lift the temporary ban, which applies to homes worth less than 200,000 euros. “This law already aims to protect the weak; if there are people hiding behind it then we have to find them,” she said, attributing the pressure on the Greek government to “obsessions” within the troika.

“The Troika argues that if auctions do not resume, the property market will collapse, like it did in the United States in 2008,” she said. “It is better for the property market to collapse first and for there to be a civil war afterward, rather than for there to be a civil war first, in which case the property market will collapse anyway, as will banks, the government and all of us.”

PASOK MP Dimitris Karydis said ministers who support the foreclosures were “irresponsible and badly prepared.” Several lawmakers from the Socialist party, including Odysseas Konstantinopoulos and Theodora Tzakri have also expressed opposition. There was no word on whether any politicians are in danger of losing their homes.

In most circumstances, Samaras and PASOK leader Evangelos Venizelos could eject from their parties lawmakers who don’t follow their orders on how to vote but the coalition has only 155 of the 300 seats in Parliament and needs every vote it can get. Previous signs of rebellion over austerity have almost always resulted in coalition MP’s coming on board.



  1. “but the government said they will be SPOKEN TO and PERSUADED to back it.” “Previous signs of rebellion over austerity have ALWAYS resulted in coalition MP’s coming on board.”
    What has happened to democracy in Greece? Isn’t this bare faced BLACKMAIL. In a court of law blackmail is a serious offence. The government hierarchy seem to be saying, “if you vote according to your conscience(which IS the right thing to do, especially in this case)you will lose your job & be thrown out of the party”. The banks are the ones responsible for this international crisis, & now the Greek government want to throw families out onto the street so the banks can grab their homes & sell them at auction where the rich can pick up a bargain as an investment for the future, & without doubt, some of the politicians will be there to buy under their families names.

  2. Are you nuts? These debts are odious. They can never be paid back. Only a full default and a return to a national currency will save the country.

  3. Or as the Legarde List dubs them, “Housewives.”

    It’s a tough call, D_S_D. There are no doubt people in that 23% of non-paying mortgagors who are just sitting back as opportunists and not paying. How to single them out from the legitimately crises-impacted cases (lost of job, etc) is the challenge.

    At the same time, to reflect upon Niko’s point below, a culture of borrowing and never paying back is a dangerous precedence for the future. It will surely develop into oblivion if the ban is just unconditionally reinstated and the “can gets kicked further down the road.”

    Personal and social responsibility (once and for all) has to be taken seriously in this country. For too many years the laughable tax debacle has given the citizens the false sense that it’s perfectly OK to skip out of an unsavory burden experienced by people in all societies. Are they fair and equitably levied right now–NO WAY! But at some point the public must recon with the realities that money borrowed (for what ever reason) is money owed.

  4. Still here trollski? Have no worries I will perpetually remind actual Greeks here you are a non-Greek that references the former Yugoslavians trolling our country as “Macedonians”. (apparently ancient macedonians now)

  5. What do you care about Greece or Greeks? You mod up non-Greeks false flaggers like Tonto that colludes with Skopian trolls.

  6. I’m not the non-Greek pretending to be Greek here dude.Don’t you have anything better to do with your time than trolls Greeks?

    I love how you constantly evade the Skopians transformation into “ancient macedonians”. Why so trollski?

  7. What you mean is to throw Greece in war with the the Powerful Lenders????! You are insane. We have this money already stashed in Swiss Banks and invested already in modernizing our army. Why shouldn’t we pay then? The money that is not in the Greek Banks is in Greek houses stashed in the mattresses.
    Greece is still the winner, we pay back a little less meanwhile we have invested overseas with good profits. Do not forget, that every second Greek has borrowed bad loans in purpose just for this purpose. We are smart the World should learn from us. …We taught them a good lesson. The World can not fool us….

  8. Maybe because he writes what is common sense to most people, except you it would seem. I see you still didn’t answer the question I put to you
    “What on earth does that have to do with Tontos comment??”

  9. I attack Tonto because he’s full of crap. He’s not actually Greek (which became obvious when he called obviosu Slavs threatening our country with “Macedonia” word games yet again)

    What country do you claim to be from?

  10. Could be that I was a professional sponge diver that evaded the dreaded bends, not like some of my friends. Maybe that will give you a clue, AND I pay taxes in Greece, which gives me the right to criticise what & whoever I please, as it does you also living in a democracy

  11. Alex, all you do here is troll Greeks, and you are American, not Greek you idiot.
    Why do you always avoid answering this?
    You are jealous of Greeks for some reason? and try to divide them.
    Keep to the story or go elsewhere, you Greek hater.

  12. Tell your manipulative stories to the fish. You said the same crap with your other handles troll-ski. Not only stupid and a conscious liar but lazy as well.

  13. Sure buddy. You are a “Greek” patriot… just like “Tonto” ….who calls the Skopians trolling our country “Macedonians”.

  14. Poor little American Alex.
    No one believes him.
    Maybe, just maybe, you have it all backwards..??

    You’re Grandparents are Slavic you idiot, and you are born and bred and live in America.

    Why can’t you answer any ?’s put to you by the many Greeks on this forum?
    You just avoid and continue childish arguing and slandering.

    Please tell us your story, especially about wanting to be Greek and yet hating Greece so much and its people?

    Otherwise, f… off

  15. Blah blah… same things .Different handle.

    What’s the matter? Too much of a coward-ski to stick to one handle? You do realize the more you manipulatively swap handles, the more strength you give to my moral arguments.

  16. Greece is at war. Currently loosing the battle for its life.
    Its being bled dry.
    Keep lending a country money it can never repay.
    This is how war is cleverly fought these days.
    Greeks will continue to get what they deserve, until they revert to their own currency.

  17. Just wont admit you are American…???
    and you’re Grandparents are not Greek origin.

    Why can’t you answer any ?’s put to you by the many Greeks on this forum?
    You just avoid and continue childish arguing and slandering.

    You’re hilarious…

  18. Any regular with half a brain here can recognize your exact words/argument have come from many many new handles that keep popping up out of the woodwork (nearly ever day now)

    So the better question is why do you constantly handle swap troll-ski? Or are you too scared to even acknowledge the question?

  19. Just for the record if you are a non-Greek living in Greece, but one that entered the country in legal fashion, obeys the law, contributes to Greek society, and is patriotic to your new homeland… I support you.

    What I don’t support is people that violate our borders, or those that are treasonous (e.g. collude with Skopians by callling them “macedonians”), or align themselves with any individual or organization that endlessly trash talks Greeks or Greece.

    If Greece is your new home embrace the Greek people and Hellenism and you will be loved. Attack us and you will face hostility (as you would face in any country you immigrated to and were hostile to locals). You have to decide where you loyalties lay and what you believe in.

  20. ‘Skopian handle swappers’ really now…???
    Is this all you ever see?
    Many people are sick of your rhetoric, racism and hate.

    You are the only poster on this forum who won’t answer ?’s
    So the better ? is who are you really and whats your agenda?

    Are you working for an organisation or political party?

    Please it’s been a few years now. Enough.
    Build your own blog site,
    This is not the site for Greek haters such as you…..

  21. Your new fake handle-ski isn’t convincing any actual Greek here of anything troll-ski. All you are doing is providing evidence what I say is true. (as was your other handle’s defence of fake “Greek” Tonto….who called the Skopians “Macedonians”.