The leftist Greek government on Wednesday said it will suspend foreclosure procedures of primary residences for arrears to the state, with the measure in effect until late 2017.
The leftist Greek government on Wednesday said it will suspend foreclosure procedures of primary residences for arrears to the state, with the measure in effect until late 2017.
The announcement came after a firestorm of criticism this week against a resumption of legal action against debtors to the state, including expected foreclosures of property and subsequent auctions.
An proposed amendment will be submitted to Parliament, which will include provisions to extend protection of primary residences from state seizure, similar to protection from banks’ claims.
Conditions that extend protection vis-à-vis banks include ceilings for property value and various income and civil status criteria.