Auctions a true test

Property auctions are a very serious matter and will have an impact on the fate of Greek banks.

The leftist-led government has, supposedly, got the message from the Greece’s international lenders and banking leaders. The European Central Bank has warned that local lenders will face the consequences in the upcoming stress tests if auctions do not get under way.

It remains to be seen very shortly whether the government will actually fulfill the commitments it has made. Let’s just hope that it is aware of the situation’s severity.