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GreekReporter.comGreeceTime Running Out on Foreclosed Homes

Time Running Out on Foreclosed Homes

E3E3A6B9A4D82E638EEE30B210B43B9EOn July 25, the European Commission will announce the assessment report of the Greek program which is expected to contain the reference to lift the current ban on auctioning primary residence from January 1, 2014.
Minister of Development, Kostis Hatzidakis, said on July 24 that during negotiations with the Troika they will try to find a socially just solution. The Minister also explained that the Troika has its own opinion, just like the government.
These statements by the Minister do not exclude the possibility of the partial lifting of the ban, possibly setting some criteria.
Deputy Development Minister, Thanassis Skordas, is in favor of the partial lifting of the measure saying that any decisions must be made promptly rather than under stress of the very last moment.
Greece has banned the auction of foreclosed homes until the end of the year when the policy will be reviewed.

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