Draft bill on protecting primary residences to be tabled within days, sources say

Talks on a new legislative framework for protecting primary residences from foreclosure have been concluded and the last technical details requiring clarification have been settled, government sources said on Thursday. The government will be tabling the draft legislation in parliament within the next few days, they said.

According to the sources, a meeting held at the government headquarters on Thursday with representatives of the Hellenic Bank Association and the CEOs of the four Greek systemic banks, chaired by Minister of State Alekos Flambouraris and Minister to the Prime Minister Dimitris Liakos, wrapped up the discussion and clarified all remaining technical issues.

Banking sources confirmed that the discussion on the new legislation that will replace the so-called “ Katseli law” for protecting home-owners had been concluded, without giving more details.

They noted that the details will be released soon, when the government tables the draft bill in the next few days.
Bankers also pointed out that the resolution of this pending issue will be yet another factor that enables the banking system to focus fully on its real job, which was to finance the real economy, households and businesses.

Regarding the new legal framework that will replace the Katseli law, they said they were waiting for the final wording of the legislation while emphasising the need for failsafes to ensure that “ strategic defaulters” were unable to take advantage of the laws designed to protect poor households that were genuinely unable to meet payments. They also pointed out that the number of such strategic defaulters had only started to substantially drop following the adoption of laws allowing electronic auctions etc.

Source ANA-MPA
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