Scrambling after threats

The constant postponement of home foreclosures due to strong opposition and reactions from various quarters constitutes a systemic threat to the country’s banks.

The government, which for months maintained a passive stance with regard to these delays, realized this all too late and only after having come under strong pressure from Greece’s international creditors who have given the government an ultimatum to proceed with electronic foreclosures on homes later this month or else jeopardize the country’s third bailout review.

They have also said that the review will not be concluded if measures aren’t taken to protect notaries who have borne the brunt of attacks by those opposed to the foreclosures.

This is yet another storm the leftist-led government of Alexis Tsipras has triggered and which it is now scrambling to deal with.

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