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Greece

Deal on Primary Residence Auctions in Greek Parliament

Greek Minister of Growth, Kostis Hatzidakis, will present in Parliament the draft of the regulation related to the primary residence auctions. Protection is only available to residences with a maximum value of 200,000 euros, on condition that the annual family...

'I Would Rather Demolish it!' Anger in Greece as Foreclosure Auctions Gather Pace

Increasing number of indebted Greek homeowners express concern about the fate of their property, despite assurances by the Greek government that primary homes will be protected. Foreclosure e-auctions, is perhaps the theme that could dominate the Greek political and social...

Low Cost Homes to be Auctioned, Despite Government's Claim of Primary Residence Protection

Greek society continues to react as foreclosed homes that are worth less than 100,000 euros are to be auctioned, despite the Greek government's claim that primary residences worth below 300,000 euros are protected. Several cases of foreclosed properties that are...

Tsakalotos: Greek Banks in Danger if Home Auctions don't Resume

Finance minister Euclid Tsakalotos has warned his party's MPs that if foreclosed home auctions don't resume, Greek banks could be facing recapitalization issues. Speaking to SYRIZA parliamentarians, Tsakalotos was referring to the notaries' announced abstention from duty until December 31,...

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...

Notaries Claim Businessmen Offspring's House Auctions are Deliberately Abolished

The Greek Notaries Association is accusing citizens' groups fighting against private house auctions, of abolishing particular auctions of houses belonging to offspring of wealthy businessmen. Making it clear that all said auction cancellations are not associated with primary residence (which...

Greek Government to Freeze Home Auctions for Debts to the State

The Greek government has decided to freeze home auctions for debts to the state after a public uproar and disapproval among SYRIZA MPs. Notaries announced that they will go on strike after facing the rage of people who are blocking courtrooms...

Piraeus Bank Chief Sallas Opposed to Auctions of First Home

President of Piraeus Bank Michalis Sallas, on Saturday expressed clear opposition to any measure regarding the auctions of primary residences. He also denied that bankers are behind the pressures put on the government by the representatives of the Institutions Asked...

Fruitless Greece-Creditors Negotiation, Pause for IMF Convention

Another long meeting between Greece and its international creditors ended early Tuesday without the two sides coming to a preliminary agreement on the bailout program. Negotiations stopped because the mission chiefs of the European Commission, European Central Bank, European Stability...

One in Three Taxpayers Fears Losing Their Home

The Research Institute (IME) of the General Confederation of Professionals, Craftsmen and Merchants (GSEVEE) released a report which shows that one in three taxpayer’s fears losing their home due to agglomerated debt and additional tax burdens. The IME-GSEVEE study also...

Greek Gov't: We will Protect Homes of Working Class from being Auctioned

The Greek government will protect the primary residences of low income families from being auctioned off, government spokesperson Dimitris Tzanakopoulos said on Thursday. The statement came after the meeting of the SYRIZA political council, chaired by Prime Minister Alexis Tsipras....

Protestors Cancel Auction at Thessaloniki Courthouse, Notary Flees Angry Mob [video]

Protestors stormed into the County Court of Thessaloniki on Wednesday during the auction of a field in the region of Chortiatis. Around a hundred protestors managed to break through the police lines at the court and stormed into the...

SYRIZA Lawmakers Numb Ahead of Voting on Painful Measures

The new austerity measures that must be voted on in Greek Parliament on Thursday have left several SYRIZA lawmakers scratching their heads as most measures are the exact opposite of their pre-election promises to voters. The fragile majority of the...

Greece-Creditors Still Disagree Over Bad Loans, Foreclosures

The second marathon negotiation between Greece and the quartet of international creditors ended at 5 am on Monday with the issues of bad loans and primary residence foreclosures still unresolved. According to sources close to the talks, the Greek team...

More Greeks Unable to Pay on Their Loans

The number of defaulting debtors in Greece is growing, and experts are warning that the situation could blow up and smash hopes the country can finally emerge from a crippling six-year recession this year. Greece’s central bank says that non-performing...