Authorities aim to shift to only electronic property foreclosures


Foreclosures on Greek properties will soon be carried out henceforth only electronically, according to a government plan aimed at curbing a spate of protests at courthouses that has led to the cancellation of numerous auctions.

According to sources, Justice Minister Stavros Kontonis has drafted the plan for a shift to electronic foreclosures, with the support of Greek notaries who have complained of coming under attack by angry protesters at courthouses.

It remains unclear when the plan is scheduled to come into effect. 

Greece's creditors are pushing the leftist-led coalition to pres forward with foreclosures as a way of reducing the number of non-performing loans burdening Greek banks so they can start lending again and propping up the economy.