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Athens Macedonian News Agency: News in English, 15-11-17
CONTENTS
[01] Holiday season in Athens to commence on Thursday
[02] Govt', institutions agree on 3-year plan to protect primary homes
[01] Holiday season in Athens to commence on Thursday
The municipality of Athens will inaugurate the 2015 holiday season in
the Greek capital on Thursday with a musical event at downtown Syntagma
square featuring the city's philharmonic orchestras.
This year's event, featuring the annual lighting of the Christmas
decorations, be dedicated to the people of Paris.
[02] Govt', institutions agree on 3-year plan to protect primary homes
An agreement between the Greek government and the institutions envisages
subsidizing installments of mortgage loans for more vulnerable households
and writing-off part of households' debts for families with an annual
income up to 35,000 euros and real estate property worth up to 230,000
euros.
This agreement, which covers 25 pct and 35 pct of borrowers, respectively,
is up from the 16 and 20 pct of borrowers with non-performing loans,
as proposed by the institutions initially.
The agreement will offer full property protection for the most vulnerable
households, namely, a a four-member family with annual income of up to
20,000 euros and property assets worth no more than 170,000 euros. For
households with annual income up to 35,000 euros, courts will determine
the monthly installment on mortgage loans based on the current commercial
value of a first home.
Finance Minister Euclid Tsakalotos, speaking to reporters, said
mortgage loans were the most precious assets of banks and noted that
banks themselves have no interest in moving forward with foreclosures,
as real estate prices are currently low in the country.
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