Greece to suspend most home repossessions until end of 2013
Greece will extend by another year the moratorium on home repossessions for debts up to 200,000 euros, according to legislation submitted to Parliament on Monday.
Until the end of 2013, banks will not be able to seize the homes of customers if they are their main property - regardless of how much is owed - or if the amount owed is less than 200,000 euros.
Non-performing loans at the end of September stood at 52 billion euros, which was 22.5 percent of all loans – a rise of 7.5 percentage points from the end of 2011. More than 15 billion euros of these loans are mortgages.
The legislative act submitted by the government also foresees individuals and businesses renting commercial properties being able to terminate their contract by paying one month’s rent to the landlord.
The European Union's leaders took a major step in tackling tax-dodgers Wednesday by pushing to end bank secrecy across the bloc's 27 members by the end of the year.
German Chancellor Angela ...
The Greek government appeared satisfied with the outcome of Wednesday's European Union leaders’ summit in Brussels as it appeared to back the government’s plans for gas and oil exploration i...
Germany's Bjoern Otto recorded the world's leading performance in the men's pole vault at the Athens Street Pole Vault event that took place at Zappio, in central Athens, on Saturday afterno...
PAS Giannina upset PAOK at Thessaloniki on Sunday to take the lead at the Super League play-offs, while Asteras Tripolis rebounded from its loss at Ioannina in midweek to defeat Atromitos at...
One of the biggest problems dragging the Greek economy down is the pressure placed on entrepreneurs aspiring to do business in sectors dominated by the “pirates” and “pimps” of the business ...
Greek taxpayers have had to pay dozens of millions of euros for the restoration and conservation of the capital’s landmark buildings, including Athens Polytechnic and the so-called neoclassi...
