Banks demand stricter protection rules

Greek banks are proposing that the protection limit on the objective value of debtors' main residences be reduced to 100,000 euros in the context of the Katseli law.

That would signify a drastic decline from the current level that starts at 180,000 euros and can rise up to 280,000 euros depending on the number of children in a household.

The issue was discussed on Tuesday at a meeting between bank officials and representatives of the country's creditors that centered on the extension of the law named after former economy minister Louka Katseli concerning the protection of debtors' main residences.

Talks also focused on the extension of the extrajudicial mechanism for debt settlement by another year.

Sources say the banks raised the issue of reducing the limit in exchange for their agreement to extend the protection order - that according to the Katseli...