Countless Auctions in Greece



ΣΥΝΕΔΡΙΑΣΗ ΥΠΟΥΡΓΙΚΟΥ ΣΥΜΒΟΥΛΙΟΥGreece is facing forced auctions of real estate whereas banks are burdened by toxic loans that have increased dramatically, mentions Wiener Zeitung.

“The toxic loans growing by leaps and bounds” is the title of  anAustrian report in Wiener Zeitung, which refers to the situation in the Greek banking sector and the real estate crisis.

The Austrian newspaper notes “the lenders of Greece celebrate the progress of Athens in the field of cuts and reforms,” adding “Greece is facing a wave of forced auctions of real estate, worse than that of Spain.”

This report describes the situation in the Greek financial sector and noted that while growing toxic loans by leaps and bounds, the total debt is reduced in Greek banks.

There are many reasons explaining this evolution, notes Wiener Zeitung and explains: “in Greece, the crisis remains at a high level of interest rates for new loans.”

“More and more Greeks are falling into the trap of debt and this is due to inter alia in the increase of property taxes. The Greek state wants to derive 2.65 billion from property owners, seven times more than in the period before the crisis,” observes the Austrian newspaper, recalling that 250,000 properties are affected because of forced auctions and high taxation.


7 COMMENTS

  1. Now this will be interesting…
    Greece has no land titles office, charges no council rates, and if you happen to go on holidays the neighbour can onsell your property to someone else and you get stuck paying the taxes..or better still they built on your land as Greece has no land titles office..

  2. Wasn’t yesterday Provopolous lying through his teeth about how well recapitalized and sound the Greek banks are?The truth is that the Greek banks are BUST because they spent the money from the bailout on buying government debt yet once again.

  3. Who cares what you say on ethics when you have absolute none? You are simply an extreme nationalist whose entire purpose in life seems to be to look for places to rant and rant about Greeks.

    Calling you a loser would be an insult to losers. Don’t you have a job? A spouse? A hobby? Don’t you have anything else to do than obsess over Greeks?

  4. They should take the homes and land of the politicians that have more than one and auction them off first to pay the debt of the country.

  5. The liquidation of thousands of properties by auction is the last step before outright abandonment. The new buyers are still in the same predicament as the previous owner having to pay high property taxes and maintenance charges kinochrista with few options to lease or sell to recover their costs.

  6. No,I don’t have anything with my life to do except pissing off the Greek crooks.Are you happy now?

  7. Glad to see you recognize you have no life beyond harassing Greeks. Too bad your pea brain lacks enough cognition to understand why your despicable behavior amounts to bigotry.

    I’ll be happy when Greek hating Nazis like you crawl back under the rock you came from.

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