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To Greeks with love: Samaras’ gov’t approves foreclosures for debts to the state

Another Christmas present sent by Samaras’ coalition government …to Greeks with love: With a very thin majority of just 152 votes conservative Nea Dimokratia and socialist PASOK voted and approved the foreclosure framework on Saturday evening. The law will apply as of 1.1. 2014, after Troika pressure.

“Rather than providing a blanket ban on the repossession of homes with a taxable value of up to 200,000 euros if owners fail to keep up with mortgage payments, the new law introduces certain criteria based on household income. It also sets the maximum amount homeowners should pay to banks each month if they are in financial difficulties. (ekathimerini)

General secretary of public revenues, Haris Theoharis, told media Sunday morning, that the foreclosure will not happen within 3 months. “People should not be afraid we will seize their homes in three months. This will not happen,” Theoharis said adding:

“The seizure doesn’t mean foreclosure, the seizure hinders the owner to sell the property before pays his debt to the tax authorities. there is no way, it would be less than a year, before the property will be given for auction.”

The bill foresees exhaustive fines to those who are slow to pay taxes or to settle their debt.

“If any amount of tax is not paid within two (2) months from the expiration of the payment deadline, a fine of
ten percent (10%) of the outstanding debt will be imposed. After one year from the expiry of the legal deadline for payment the fine shall be twenty percent (20%). After two (2) years the fine will be 30%.” (

For other kinds of debts (traffic fines, urban legislation fines etc) the 1o% will be imposed after six months.

In real life, it means that if you have a property, you’re jobless or low-pensioner and cannot pay the taxes imposed again and again according to the fictitious criteria of the Finance Ministry, you will be blessed to seek a bench in the nearest park of your area.

But do not complain! It’s just the internal devaluation of the euro they were talking about.

PS I wonder, why the opposition speaks of loan sharks’ interest rates

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  1. People should not be afraid we will seize their homes in three months. This will not happen

    You have to give it to them, wooden necks they have. So, before seizing your home, they are insuring that they will lamp you with the 10% fine, as this kicks in after 2 months. Only then will you be pointed in the direction of the nearest bench.
    Has anybody asked this clown how he expects people to pay all this when they couldn’t last week? And how they are going to pay any of this if they can’t sell the property in order to pay off whtever they are deemed to owe. That is simply saying we WILL take your property, just not yet. well make sure you can’t pay your debt, and add some on to it first. Like 10% minimum…

  2. you think they have any idea about what they do and legislate?