Creditors ask for a 100,000 euros threshold for residence auctions

8 November 2015
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Greek government continues the talks with the four representatives of the Institutions in order to reach an agreement on first residence auctions before the Euro Working Group meeting which is scheduled for Monday.

The creditors want a 100,000 euros threshold regarding the auctions of the first residence, as sources told protothema.gr. As the developments on discussions showed there was a willing to make a compromise and accept a threshold on 150,000 euros. However, the information creditors received by the banks showed that if the limit was raised to 150,000 euros, about 8 out of 10 consumers would be protected, a rate which is too high for them.

The Greek side, though, sets the threshold at 200,000 euros. Although, Greek government wants to complete the evaluation and to overcome any obstacles, the auctions issue is considered essential. The threshold of 150.000 euros would be an acceptable limit for reaching a compromise, but the government insists on 200,000 euros up to now, as it is estimated that, although with this way there would still be first residence auctions, but at least, based on Greek’s side estimates, 9 out of 10 borrowers could be protected.

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