Strategic default

The yearly publication of the list containing the major debtors to the Greek state, which named those with debts exceeding 150,000 euros, was implemented as a measure to discourage tax evasion and delinquent payments.

Borrowers who have applied for protection of their main residence through the so-called Katseli law whose case has not yet been heard in court will have to submit their full application again on a special online platform to receive a new court date.

After the strategic defaulters have been exposed, according to government planning, and the existing framework for the protection of borrowers' main residence has expired on April 30, truly vulnerable households will get a safety net if they cannot service their dues, so that they are not left on the street.

One in every two borrowers who have come under the protective umbrella of the Katseli law is a strategic defaulter, while there are similar indications about one in every three debtors who entered the existing platform for the protection of their main residence, and for one in every three whose properties are set to be auctioned, as they find the money to pay off their dues, Finance Minister Ch

The political quarrel between Adonis Georgiadis and the center-left Movement for Change alliance (KINAL) following the conservative development and investments minister's remarks regarding measures protecting primary residences against foreclosure has in a peculiar way underscored the need for a reliable centrist party as a tool for monitoring, evaluating and comparing political and economic de

The Finance Ministry is considering an extension to the protection of primary residences, changes in the receipt lottery, and the return of retroactive dues to pensioners according to the capacity of the budget, minister Christos Staikouras stated on Saturday.

Banks are now able to efficiently sift through the applications pending for protection of primary residences from foreclosure, as on Friday the online platform for that purpose was launched, tightening the noose around strategic defaulters.

The informal freeze on property auctions is coming to an end as the online platform for the settlement of bad loans will start operating in early July. After that, any borrowers with overdue obligations who do not apply for an arrangement will see their properties put up for sale, regardless of the value or their situation in terms of property assets.

International rating agency Moody's has qualified as "credit positive" for the securitization of nonperforming exposures Greece's new framework for the protection of the primary residence of borrowers.

The government will on Wednesday attempt via another conference call to find common ground with the country's creditors on the new protection framework for borrowers' primary residences after Tuesday's fruitless effort, with just five days left until the March 25 Euro Working Group.