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To Vima Online - Greece | Thursday, December 5, 2013

Greek banks should write off failed mortgages

The troika has urged Greece to resume the forced sales of houses whose owners can no longer maintain their mortgage payments due to the crisis. However the government fears that in doing so tens of thousands of families could be left homeless. The left-liberal online daily To Vima argues that the mortgage owners should be protected: "The banks have started a crusade to have the houses of mortgage owners who can't make their payments sold. They claim that if the borrowers haven't paid their instalments, it's because the law protects the principle residence. ... Some time ago the banks received financial help to prevent them from going bankrupt. If they had gone bankrupt, this would have plunged our country into an abyss. Now it's time they gave something in return. We know that these banks have registered profits. That is their prime objective, and to do so they accept certain risks. Once in a while they should be ready to make a loss and make do with lower profits."

» To the complete press review of Friday, December 6, 2013

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