ECONOMY

Stathakis says political solution seen in bad debt dispute

stathakis-says-political-solution-seen-in-bad-debt-dispute

Greece's economy minister said on Monday a deal may have to be taken by Europe's leaders to bridge a dispute between Athens and international lenders over regulating non-performing loans at banks.

Discussions have stumbled over how to foreclose on non-performing loans at Greek banks. Athens insists resolving the issue should not result in thousands of Greeks at risk of losing their homes.

"The thorny issue is the distance that separates us on the issue of protecting primary residences," Economy Minister George Stathakis told Real FM radio.

"I think the negotiations we conducted with the institutions has closed its cycle .. so its a political decision which must be taken," he said.

[Reuters]