x

Society

Troika Wants SYRIZA to Step Up Electronic Home Foreclosures

February 6, 2018

ATHENS – Greece’s creditors want the ruling Radical Left SYRIZA-led coalition to forge ahead faster with online foreclosures of homes, which Prime Minister Alexis Tsipras said he would never do before surrendering to them again.

The Troika of the European Union-European Central Bank-European Stability Mechanism (EU-ECB-ESM) is putting up a third bailout, this one for 86 billion euros ($107.19 billion) Tsipras said he would never seek nor accept but did both even though it came with more crushing austerity measures he vowed to reject before imposing more.

They included letting banks buried under bad loans confiscate homes after he swore “not one home in the house of banks” before reneging on that vow too.

But violent protests at courthouses where auctions were being conducted, and with notaries taking part sometimes refusing in fear of retribution, led to the government agreeing to electronic foreclosures to get around the demonstrations.

Protesters were also threatened with automatic prosecution and jail if they got in the way but the anarchist group Rouvikonas, which broke into the office of one notary and vandalized it and made threats, said it would press action against foreclosures.

A recent meeting of the Eurogroup, an informal body in which the ministers from the 19 Eurozone countries discuss matters relating to their countries’ common responsibilities related to the euro insisted Greece show progress from electronic foreclosures.

That was a condition of getting the release of more monies from the staggered third rescue package which has built Greece’s debt to the lenders, which includes the Washington, D.C.-based International Monetary Fund (IMF) to 326 billion euros ($406.32 billion) in three bailouts that began in 2010.

There are concerns on the lenders’ side about whether auctions can take place in all parts of the country, especially as many notaries have not registered for the electronic scheme, and whether the online platform, which was only launched in November, can cope with the number of auctions that are expected to take place, Kathimerini reported.

With initial reports that some 40,000 homes would go on the block, with the government insisted it was only strategic defaulters and not those of people who couldn’t afford to pay because of big pay cuts, tax hikes, slashed pensions and worker firings, a report from the European Commission put the number at 130,000 through 2021.

The Finance Ministry denied that any such target had been agreed, downplaying fears that the government would allow wholesale takings of people’s homes.

According to the Compliance Report, 1,000 auctions a month should be carried out from March, with the number rising to 2,000 a month in the final quarter of the year so that roughly 10,000 have taken place by the end of the year.

RELATED

ATHENS – The distinguished Greek-American scientist Nikos Kyrpides, biologist, researcher, head of the Prokaryotic Genomics Program at the Joint Genome Institute of the U.

Top Stories

Columnists

A pregnant woman was driving in the HOV lane near Dallas.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

Video

Over 100 Pilot Whales Beached on Western Australian Coast Have Been Rescued, Officials Say

MELBOURNE, Australia (AP) — More than 100 long-finned pilot whales that beached on the western Australian coast Thursday have returned to sea, while 29 died on the shore, officials said.

ISTANBUL (AP) — A court in Turkey sentenced nine rail officials to more than 108 years' imprisonment over a crash six years ago that killed 25 people, local media reported on Thursday.

MELBOURNE, Australia (AP) — More than 100 long-finned pilot whales that beached on the western Australian coast Thursday have returned to sea, while 29 died on the shore, officials said.

MELBOURNE, Australia (AP) — A Sydney bishop who was stabbed repeatedly in an alleged extremist attack blamed on a teenager has backed X Corp.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. [email protected]

You may unsubscribe at any time using the link in our newsletter.