Notary public

Justice Minister Stavros Kontonis indicated on Wednesday that electronic foreclosures will begin on November 29 as planned, following talks with Greek notaries who had announced earlier this month that they would boycott property auctions until the end of the year. 

The constant postponement of home foreclosures due to strong opposition and reactions from various quarters constitutes a systemic threat to the country's banks.

European officials have given the government an ultimatum to proceed with electronic foreclosures on homes later in the month or else the country's third bailout review will not be concluded.

The government is seeking to break the impasse created by Greek notaries who on Monday announced a boycott on property foreclosures, citing fears for their safety amid violent protests. 

The outlook for property foreclosures in Greece is unclear after notaries announced a boycott on auctions until the end of the year, citing abuse by protesters, though foreign creditors expect the first online auctions to take place this month. 

The associations representing notaries in Athens, Piraeus and the islands of the Aegean and the Dodecanese on Monday announced they will not be conducting any property auctions until December 31.

The 650,000 farmers and self-employed professionals who have not paid the social security contributions they still owe for 2016 have been granted an extension. The new deadline for payments is January 31.

The Athens-Piraeus Notary Association has shed light on asset auctions canceled on Wednesday following protest action by various groups.

The cancellations concerned four scheduled auctions of assets belonging to corporations or individuals with very large debts that are hiding behind so-called collectives and escaping the consequences.

The union representing notaries in Athens, Piraeus, the Aegean and Dodecanese islands on Friday protested against a recent spate of initiatives by activists opposing foreclosures on homes, noting that the auctions in question related to people owing millions of euros.

The government is considering the introduction of a regulation that will force notaries to register on the new online auctions system, in a bid to tackle their refusal to participate in the process.