EC sets out improvements Athens should make to primary residence proposal

EconomyProgramme Tags: EC, NPLs, Property

Among the areas of concern highlighted in the European Commission’s second post-programme surveillance report are the household insolvency law and debtor protection schemes, which are examined in the context of the overall financial system stability and the ongoing efforts to reduce the stock of Non-Performing Exposures (NPEs) from the systemic banks.

The protection of primary residences under the household insolvency legislation, known as Katseli law, was introduced at the start of the crisis and has been extended over the years. It was due to expire the end of last year and be replaced by a more co...

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