Finance Ministry

State plans to auction dozens of houses from next month

The state will put 31 properties owned by debtors up for auction immediately after the process for the settlement of debts to the tax authorities in up to 120 tranches is completed.

These asset auctions have been scheduled for the period from October 23 to December 20, but could be canceled if the debtors concerned apply to join the 120-installment repayment program by September 30.

State NPE scheme to double in size

Bad loans worth 30 billion euros are being prepared for transfer to the asset protection scheme (APS) that the Finance Ministry is creating.

This is twice the original amount provided for, a development that highlights the government's resolve to tackle the problem of banks' nonperforming exposures.

Lazard hired to take rating over junk level

French company Lazard will be the new consultant of the Public Debt Management Agency (PDMA), replacing Rothschild, with the aim of bringing Greek bonds back to investment grade within the next couple of years.

This decision was reached on Wednesday by the government's Economic Policy Council on the recommendation of the PDMA and an opinion by the State Legal Council.

Coastal zones axed from growth bill

After opposition within the cabinet, the Greek government has withdrawn articles included in a draft of a growth bill that sought to facilitate entrepreneurship on the country's beaches and coasts, which however would have limited public use of these areas.
According to reports, the Prime Minister's Office opined that these articles needed further elaboration.