Effort to end notaries' strike amid concern for auctions, NPLs

EconomyProgramme Tags: Property, Reforms
Photo by Panayotis Tzamaros/Fosphotos
Photo by Panayotis Tzamaros/Fosphotos

The decision by the notaries’ associations to boycott all types of auctions, including electronic ones that are due to start at the end of November, has triggered concern within the government and its lenders. The electronic auctions are seen as a key way of reducing banks’ exposure to non-performing loans and raising funds.

The longer the process does not go ahead, the more speculation mounts about Greek lenders needing further recapitalisation. This was reflected in banks’ share prices this week, which have nosedived since Monday.

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