Athens says to launch online foreclosures on November 29


Athens’s intention to begin online foreclosures on November 29 was reiterated at a meeting between government officials and the technical experts of the country’s creditors in the Greek capital.

Sources said there was an effort made to change the bad atmosphere created in the last few weeks due to the delay in launching the online auction platform.

Staff-level talks also centered on the issue of the full application of the extrajudicial mechanism for the settlement of corporate debts, particularly the automatic process for the restructuring of business debts that range between 20,000 and 50,000 euros.

A source who took part in Monday’s meeting said the creditors’ experts voiced their agreement in principle with the Greek proposal on the issue. However, they said final decisions made at the meetings between the responsible ministers and the creditors’ mission chiefs.

Such are the meetings set for Tuesday and Thursday with the participation of Economy Minister Dimitris Papadimitriou.