themselves to blame or maybe an economic collapse was
the reason.
In the case of Greece, we know what has caused 6 years
of depression. It's the banks that Germany and France used
to sell bonds to Greece so that these countries could bribe
Greek politicians into buying their homemade tanks and
bridges and so on.
Those banks could not be expected to take the fall for
their stupidity. They pulled out of the "common market"
by pushing their respective governments into screwing
Greece. That's not "Communal" or even slightly "Commun-ist"
Well, those banks were made whole by the ECB, so
that every European is paying off these banks' mistakes.
The only
other thing to settle is the fact that Greece is in a
never-ending downward spiral that has led, through
some God-sized miracles, to a delay in house
repossessions, which have only started recently.
It's still a disaster. Only a war could have such an
effect. Folks whose lives were normal, were one
day ruined, irrevocably. Because Germany said so.
It's a different kind of war. Well, the EU now has
Brexit to deal with, and here's hoping they choke
on it.
checkit: http://www.nytimes.com/2016/10/30/world/europe/greece-economic-crisis-homeowners.html
Greek Homeowners Scramble as Repossession Looms: ‘It’s Like a Horror Movie’
By NIKI KITSANTONISOCT. 29, 2016
Even after retiring as an accountant, Michalis Hanis dutifully kept up with the mortgage payments on the small house in a suburb of Athens where he has lived for 23 years. That was until several years ago, when Greece’s economic crisis hit. As part of belt-tightening measures demanded by Greece’s creditors, the government cut his pension by 35 percent. Like his country’s debts, his debts grew. Now he has joined the tens of thousands of Greeks fighting to save their homes as a sudden wave of repossessions has struck this year, prompting mounting protests across Greece. “It’s like a horror movie,” said Mr. Hanis, 63, who takes antidepressants and sleeping pills to cope. “You can never relax. I just want to protect my home.” Continue reading the main story Related Coverage Explaining Greece’s Debt Crisis JUNE 17, 2016 I.M.F. Assessment Hints at Internal Struggles OCT. 20, 2016 Greek Lawmakers Pass Additional Austerity Measures SEPT. 27, 2016 Premier of Greece, Alexis Tsipras, Accepts Creditors’ Austerity Deal JULY 13, 2015 ADVERTISEMENT Continue reading the main story The country’s creditors have pressed the government to allow the auction of delinquent debtors’ properties, collecting billions of euros that could be used to prop up tottering Greek banks. Greek banks hold 108 billion euros, or about $119 billion, in bad loans, just under half of all loans given out. Of these, 41 percent are delinquent mortgages. The real challenge is to address the problem of bad loans in a way that offers some hope to debtors like Mr. Hanis but does not undermine the banking system. That circle may be impossible to square. The country has been given three international bailouts worth more than €300 billion over the past six years, but it cannot recover if its banks are foundering. Since signing the third bailout package in the summer of 2015, Prime Minister Alexis Tsipras has less leverage to push back against his creditors. Critics say he has made concession after concession despite pledges to protect homes. Government officials have insisted that homes are safe. Giorgos Stathakis, the economy minister, said in a statement that “first homes are already protected as regards debts to banks.” The authorities, he added, are also “examining further intervention for debts exclusively to the state,” meaning debts like unpaid taxes. Yet in the spring, the government lifted a ban on the sale of delinquent mortgages and loans to small businesses. In the summer, new laws were passed that allowed banks to initiate foreclosures if debtors are regarded as uncooperative. Greeks are furious and feel betrayed. In a campaign reminiscent of citizens’ initiatives in Spain a few years ago, Greek homeowners and their supporters have been staging demonstrations against auctions across the country. Every Wednesday, when foreclosure auctions are held, protesters gather outside Greek courts, blocking access to legal staff, barging into courtrooms and, on occasion, clashing with the riot police. Among those protesting are groups like the left-leaning Repossessions Stop and Den Plirono (I Won’t Pay), as well as right-wing groups. Stefanos Grigorakis of the United Pan-Popular Front, a nationalist group, joined one recent Wednesday protest outside the Athens county court. He said the government’s reassurances were disingenuous. “It’s deception, so people sit back on their couches,” he said. “Greeks have to wake up. They handed over the public wealth,” he added, referring to the government’s plans for state privatizations. “Now they’re coming to take our houses.” Such protests have blocked dozens of repossessions in recent weeks. Auctions began in September, when Greek lawyers returned to work after a nine-month strike over cuts to their pensions. In a speech in Parliament this month, Mr. Tsipras defended his government’s efforts to protect homeowners. He said there had been only 500 repossessions this year and none in 2015, when his leftist Syriza party came to power, compared with thousands under previous governments. Greek notaries and the association of Greek borrowers said the numbers were higher, though they did not have exact figures. The head of the borrowers’ association, Vangelis Kritikos, said about 50,000 properties would be up for repossession next year. “People are panicking,” he said. “Every day we get about 500 calls.”...
