Greece determined to defy troika on home foreclosures ban

The Greek government appeared willing to settle the issue of the lifting of a ban on home foreclosures through discussion with the troika by the end of the year. Otherwise, if no compromise is reached, it appears determined to legislate unilaterally, without the troika’s approval.

In a meeting on Monday evening, prime minister Antonis Samaras discussed this issue with deputy Evangelos Venizelos, finance minister Yannis Stournaras and defense minister Dimitris Avramopoulos.

Stournaras said the government must draft legislation amending the existing status quo regarding foreclosures irrespective of whether or not a deal is reached with the troika on the issue as the current ban protecting Greeks’ primary residences is set to expire on December 31.

Commenting on the issue, Simon O’Connor, the spokesman for European economic and monetary affairs commissioner Olli Rehn, said the troika has not asked Greece to lift the moratorium on foreclosures but to prevent people “systematically abusing” the protection it offers.

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(Greek prime minister Antonis Samaras. Photo: European People’s Party)