ECONOMY

Battle ahead for professional rental law

The issue of professional rentals will return to the negotiations table between the Greek government and its international creditors, as the latter are said to have rejected a proposal by Development Minister Costis Hatzidakis for a minimum lease period of three years.

Ministry sources say that although the creditors have not yet given their official response to the latest proposal, they insist on the immediate and full liberalization of lease contract terms. They argue that any regulation would create distortions in the property market.

The same sources note that the ministry will not concede defeat without a battle and will persist with negotiations, especially regarding the issue of the protection of old professional leasing contracts.