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Tag Archives: red loans

Greece considers buying civil servants’ red loans from the banks, says Economy Minister

The Greek state is considering to buy private red loans from banks at the prices they would sell to collections companies or hedge funds. This was stated by Economy and Development Minister, Dimitris Papadimitriou, in response to a question by opposition MP, Odysseas Konstantinopoulos (PASOK). The MP wanted to know …

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Greece’s debt collectors to screen debtors’ Facebook & other social media accounts

Are you a bank debtor in a cash-strapped country and owner of several accounts on social media? News is bad, my friend. The banks are after you with new methods to prove whether your claim “I have no money” is true or not. They will screen your Facebook, Twitter, Instagram …

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Government passes “red loans” bill with 153 votes

SYRIZA-ANEL government survived also the voting of the multi-bill that opens the way for Distress Funds to buy non-performing loans from the banks. The purchase of “red loans: is expected to lead to closure of thousands of enterprises and the loss of thousands of work places. The bill passed with …

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Greek govt’s social program – counterweight to “Red Loans” bill

Greek government announced a package of social measures as counterweight to the “red loans” bill that will be voted tonight in the Greek Parliament. The program includes among others: health care to uninsured citizens and migrants with legal papers, broadening the criteria for the ‘social invoice’ of Public Power Company, …

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Greece – Creditors: €2bn bailout tranche & €10bn for banks recap must wait

For one more time creditors sent a clear message to Greece: first the new deal will have to pass through the Parliament. Only then they will turn on the faucet and let 2 billion bailout tranche and 10 billion for the bank recapitalization flow towards the Eurozone south. The Euro …

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Businessman couple sought by police for Hellenic Postbank loans surrenders to Scotland Yard

Greek businessman Kyriakos Griveas and his wife Anastasia Vatsika surrendered themselves to Scotland Yard in London shortly after Wednesday noon, Greek media report. The couple was sought by Greek police for ‘red loans’ it had received from the Hellenic Postbank.  An international arrest warrant had been issued as the couple …

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